Section 17: Maritime Fund

(1) There is established the Maritime Fund (in this Act referred to as "the Maritime Fund").
(2) Monies in the Fund may be applied only for the purpose of furthering the objectives and functions of the Agency under this Act.
(3) Monies in the Fund at the end of any financial year shall be carried forward as a credit to the Fund to the following financial year.
(4) The Agency may apply monies in the Fund to promote the development of indigenous shipping and shipping infrastructure in Nigeria.
(5) The beneficiaries of the Fund under subsection (4) of this section shall be Nigerian citizens and companies.