The Speaker of the House of Representatives, Tajudeen Abbas, Minister of Blue Economy, and Gboyega Oyetola, have called for the establishment of a dedicated shipping regulatory agency.
The proposal was discussed during a public hearing on the Shipping Council’s Repeal and Enactment of the Shippers’ Council and Economic Regulatory Bill, held in Abuja on Monday.
Represented by Sada Soli, lawmaker for Jibia/Kaita Federal Constituency, Speaker Abbas emphasized that the creation of a shipping regulatory agency would strengthen the newly formed Ministry of Blue Economy and foster economic development.
“This re-enactment bill seeks to ensure that the proposed agency establishes an economic regulatory framework for effective and efficient regulation of commercial and related activities in the shipping and port sectors,” Abbas stated.
The bill aims to provide a comprehensive governance framework for the Nigerian Shippers’ Council, detailing the structure and responsibilities of its management and staff.
It also specifies financial guidelines for the allocation, management, and auditing of funds to maintain financial integrity and support the Council’s operations. Moreover, the bill outlines offences and penalties to address non-compliance issues.
Minister Oyetola, represented by Permanent Secretary Oloruntola Olufemi, highlighted the positive economic impact of the proposed agency. He noted that the regulatory framework would prevent unfair practices, promote fair pricing, and encourage competition within the shipping and port sectors.
The Chairman of the House Committee on Shipping Services, Ports and Harbor, Maritime Safety, Education, and Administration, Abdulsamad Dasuki, assured stakeholders of the lawmakers’ commitment to expedite the legislative process to turn the bill into law.
Boma Alabi (SAN), Chairman of the Shipping Association of Nigeria, welcomed the initiative, noting that any measure improving efficiency, reducing costs, and eliminating current bottlenecks is highly desirable.
She urged the committee to address specific concerns within the bill, such as sections 40, 42, and 52, to ensure checks and balances and prevent potential abuses of power.
Executive Secretary of the Nigerian Shippers’ Council, Pius Akuta, provided an overview of the bill, emphasizing that it addresses regulatory gaps that have allowed arbitrary tariffs and charges by service providers, impacting Nigeria’s international trade competitiveness.
The bill aims to establish an economic regulatory framework that ensures transparency and accountability in tariff and charge impositions and promotes the digitalization of cargo-related processes in line with international best practices.
The proposed agency is expected to be financially autonomous, funded through government grants, fees, charges, and other revenue generated from its operations.
