Abbas and Oyetola seek creation of shipping regulatory agency – News – The Guardian Nigeria News – Nigeria and World News

The Speaker of the House of Representatives, Republican Tajudeen Abbas, and the Minister of the Blue Economy, Mr. Gboyega Oyetola, have called for the establishment of a shipping regulatory agency in Nigeria.

The duo canvassed in Abuja yesterday during the public hearing on the repeal and enactment of the Shipping Council of the Freight Forwarders Council and the Abuja Economic Regulation Act.

The public hearing was organized by the House of Representatives Committee on Shipping Services, Ports and Ports, Maritime Safety, Education and Administration.

Abbas said the decision to create the regulatory agency is aimed at economic growth, development and diversification, as well as strengthening the new ministry.

According to him, this reconstruction aims to ensure that the proposed agency establishes an economic regulatory framework to effectively and efficiently regulate commercial and related activities in the shipping and ports sectors.

He added that it also aimed to create an enabling environment for private sector participation in the provision and delivery of regulated services, among others, in Nigeria.

“The amended Act contains key provisions relating to several key areas necessary for the effective functioning of the Nigerian Freight Forwarders Council.

“It details the structure and responsibilities of management and staff, establishing a clear management framework that defines roles and qualifications to ensure competent supervision.

“The bill includes financial provisions, setting out guidelines for the allocation, management and control of financial resources, which is crucial to maintaining financial integrity and ensuring that the Council has the resources necessary to carry out its responsibilities.

“The Act also includes offenses and penalties, describing specific issues related to non-compliance and corresponding penalties,” he said.

The Minister of Blue Economy, Gboyega Oyetola, while pushing for the establishment of a regulatory agency, said it would improve the country’s economy.

The Minister, represented by Oloruntola Olufemi, Permanent Secretary, Ministry of Blue Economy, said the adoption of the bill would be a welcome development.

The chairman of the committee, MP Abdulsamad Dasuki, promised to create a legislative framework that would enable the bill to come into force.

“This proposal seeks to provide a regulatory framework aimed at ensuring an enabling environment in Nigeria.”

Chairman of the Shipping Lines Association of Nigeria, Barr Boma Alabi (SAN),
stated that any action that improves efficiency, reduces costs and reduces the bottlenecks we currently face will be welcomed.

She stated that the Nigerian port costs the country twice as much as other ports in the region such as the Republic of Benin, adding that it must be ensured that shipping companies do not relocate from Nigeria.

“We need to be more efficient and we welcome the creation of a regulatory agency that will be set up to ensure greater efficiency.

“We have expressed our concerns internally and externally and the committee that has been involved in this process needs to work on some of the areas of concern.

“There are aspects that need to be erased like sections 40, 42, 52 and some others; we understand the reason for this.

“We need to put some checks and balances in place so that those in the saddle don’t abuse it.”