Nigeria: Asset Finance

Nigeria's Cabotage Vessel Financing Fund (CVFF) is finally disbursing after 23 years, but eligibility alone does not guarantee approval. What separates successful applications from failed ones is whether the underlying business is genuinely bankable, with proper ownership structures, credible feasibility reports, and adequate security packages in place before approaching a Primary Lending Institution.

Equipment leasing has emerged as a vital source of asset finance for Nigerian businesses seeking access to vehicles, machinery, technology and other productive assets without substantial upfront costs. The Equipment Leasing Act 2015 established the Equipment Leasing Registration Authority and introduced a comprehensive statutory framework for regulating equipment leasing activities in Nigeria.

Nigeria's Cabotage Vessel Financing Fund offers a $700 million opportunity for indigenous shipowners, but accessing these funds requires far more than completing an application form. Understanding what lenders evaluate—from repayment capacity and corporate structure to security arrangements and vessel revenue streams—can mean the difference between a rejected application and successful financing.