10 Local Shipping Firms Benefit From Ncmdbs 350m Intervention Fund

The Nigerian ContentDevelopment and Monitoring Board, NCDMB, has given ten local shipping firms access to its 360 million intervention fund domiciled at the Bank of Industry, BoI.

Speaking at Maritime Roundtable Breakfast Meeting in Lagos, General Manager, Research, Statistics and Development, NCDMB, Mr. Silas Ajimijaye said that about 10 local shipping firms has had access to the fund .

Ajimijaye also said that since the fund is being managed by BoI, the default rate has been very low as more beneficiaries access the loan and pay back on time.

He said: What I know is that not less than 10 Nigerian shipping companies have accessed that facility. A good example is Starz Marine Investment and they said they are very happy with what NCDMB has done to help them as a company.