The Speaker, Minister and others are pushing for the creation of a maritime transport regulatory agency

Speaker of the House of Representatives Tajudeen Abbas, Blue Economy Minister Gboyega Oyetola and other stakeholders on Monday called for the establishment of a maritime transport regulatory agency in the country.

They made the call in Abuja during a public hearing on the repeal and enactment of the Shipping Council of the Freight Forwarders Council and the Economic Regulation Act.

The public hearing was organized by the House of Representatives Committee on Shipping Services, Ports and Harbours, Maritime Security, Education and Administration within the National Assembly Complex.

Represented by the legislator representing Jibia/Kaita Federal Constituency, Katsina State, Sada Soli. The Speaker noted that the establishment of the regulatory agency aims to enhance economic growth and development and strengthen the new ministry.

He said: “This re-enactment bill seeks to ensure that the proposed agency establishes an economic regulatory framework for the effective and efficient regulation of commercial and related activities in the shipping and ports sectors.

“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.

On his part, Oyetola, while calling for the need for a regulatory agency, said it would improve the country’s economy.

The Minister, represented by Permanent Secretary in the Ministry of Blue Economy, Oloruntola Olufemi, said the move, if enacted, would have a positive impact on the economy.

The Chairman of the Legislative Framework Committee, Abdulsamad Dasuki, declared that legislators are ready to accelerate the legislative processes that will make the bill become a legal act.

The Chairman of the Shipping Association of Nigeria (SAN) has said that any action that improves efficiency, reduces costs and alleviates the bottlenecks we are currently facing would be greatly welcomed.

“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. Some aspects should be removed, such as sections 40, 42, 52 and some others. We understand the reason.

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

Presenting a summary of the bill, the Executive Secretary of the Nigerian Council of Freight Forwarders, Pius Akuta, said it would “eliminate the regulatory vacuum that has allowed service providers in the shipping and ports sectors to impose arbitrary duties and levies, which affects Nigeria’s competitiveness in international trade and provides updates needed from due to outdated penalties and regulatory powers that are insufficient to enforce compliance by service providers.”

Once established, the agency will, according to Akuta, create “a robust economic regulatory framework that prevents unfair practices, promotes fair prices and encourages competition, protects the interests of both service providers and users by ensuring transparency and accountability in the imposition of tariffs and fees, and automates and digitizes cargo processes to align with international best practices.”

The Permanent Secretary added that the agency will be financially independent, “financed by a combination of government grants, fees, honorariums and other revenues generated from its activities.”