FG to Support Nigerian Shipowners with $25m, Refinery Shares Open to Drivers, Cooks, Traders

The Federal Government has announced plans to provide qualified Nigerian shipowners with financial support under the Cabotage Vessel Financing Fund. This move aims to strengthen indigenous shipping and create jobs. Dangote Industries Limited has also commenced the registration process for its proposed initial public offering, which will allow various individuals, including drivers, cooks, and traders, to own shares in the refinery. The development is expected to boost economic growth and provide opportunities for more people to invest in the country's oil industry. The exact details of the refinery's shares and the registration process are still unclear, but the move is seen as a positive step towards increasing participation in the industry. The Federal Government's support for Nigerian shipowners is expected to have a significant impact on the country's shipping sector, creating over 30,000 direct and indirect jobs.