The Nigerian Maritime Administration and Safety Agency NIMASA and Cabotage Vessel Financing Fund (CVFF) is to attract a single digit interest rate.
Disclosing this in Abuja Transport Minister, Senator Idris Umar said that all was set for the disbursement of the fund adding that only six applicants are said to have successfully passed screening processes by both the banks and the ministry.
The minister who spoke at the presentation of the mid-term achievement of the present administration also disclosed that the repayment time for the loan is seven years.
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