By: Amadi Vincent Uzoma
The Speaker of the House of Representatives, Tajudeen Abbas, and the Minister of Blue Economy, Gboyega Oyetola, are in favor of establishing a shipping regulatory agency in the country.
The call was made during a public hearing on the repeal of the shipping council and the introduction of the Shippers’ Council and Economic Regulatory Bill in Abuja on Monday.
The Shipping Line Association of Nigeria also strongly supports setting up the agency, stating that it would enhance efficiency and reduce costs.
The public hearing was convened by the House Committee on Shipping Services, Port and Harbour, Maritime Safety, Education, and Administration in Abuja.
Abbas highlighted that establishing the regulatory agency aims to boost economic growth, development, and diversification while reinforcing the new ministry.
The re-enactment is intended to ensure that the proposed agency establishes an economic regulatory framework to effectively regulate commercial and associated activities in the shipping and port sectors.
Furthermore, it aims to create a conducive environment for private sector involvement in offering and managing regulated services in Nigeria, among other objectives.
Abbas mentioned that the bill includes provisions on violations and penalties, specifying non-compliance issues and their respective sanctions.
Minister of Blue Economy, Gboyega Oyetola, advocated for the establishment of the regulatory agency, emphasizing its potential to enhance the nation’s economy.
Represented by Oloruntola Olufemi, Permanent Secretary of the Ministry of Blue Economy, the minister welcomed the possibility of the bill becoming law.
Committee Chairman, Rep. Abdulsamad Dasuki, pledged to provide the necessary legislative framework to facilitate the passage of the bill into law.
