Dr Vicky Haastrup, the President of Certified Institute of Shipping (CIS), has advised the Federal Government to disburse the Cabotage Vessel Financing Fund (CVFF) to ship owners.
The fund, which runs into millions of dollars, has been a subject of controversy among stakeholders.
The fund, which has been in the custody of the Nigerian Maritime Administration and Safety Agency (NIMASA), is a contribution of ship owners to sustain ship owning and building in Nigeria.
Haastrup, who was a Visitor to the 2018 Convocation Ceremony of CIS, said that the fund would be better managed by the ship owners.
“Like the Nigerian Airways and the Nigerian National Shipping Line that were all mismanaged, the proposed national fleet may go the same way.
“At a time in this country, the now rested Nigerian National Shipping Line used to have 26 ships in its fleet but corruption killed it without recourse to its job creation,’’ she said.
Haastrup said that as practical hands, the ship owners, through their association, could do better with the fund in this regard, adding that she was not in support of any national fleet.