Nigeria, April 11 -- President Bola Tinubu has approved the disbursement of the Capital Reserve Financing Fund to Nigerian shipowners, enabling them to acquire vessels and expand their operations.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this while speaking at the Blue Economic Investment Summit in Abuja, organised by the Maritime Innovation Hub.

The summit, themed "Shifting Gears: Heading to a New Frontier in the Maritime Economy," brought together government officials, investors, and industry stakeholders to chart a new direction for Nigeria's marine and blue economy.

Mr Oyetola, a former governor of Osun State, said the incentive is expected to create no fewer than 30,000 jobs in the maritime sector, bo...