Oyetola, shipping lines support Nigeria’s regulatory powers

The Speaker of the House of Representatives, Abbas Tajudeen, Minister of the Blue Economy, Gboyega Oyetola and the Shipping Association of Nigeria (SAN) have expressed support for the amendment of the Nigerian Freight Forwarders Council Act to give it commercial regulatory powers in the maritime sector.

On Monday in Abuja, speaking at a public hearing on the bill to repeal and re-enact the Freight Forwarders’ Council and Economic Regulation Act, Abbas said the establishment of the regulatory body was aimed at enhancing economic growth, development and diversification and strengthening the newly established ministry.

He said the amendment to the NSC Act aims 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 and 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, setting out specific issues related to non-compliance and corresponding penalties,” he said.

Highlighting the need for a regulatory agency, Blue Economy Minister Gboyega Oyetola said it would improve the country’s economy.

The Minister, represented by the Permanent Secretary, Federal Ministry of Maritime Affairs and Blue Economy, Oloruntola Olufemi, said the passage of the bill would be welcomed.

The Chairman of the House of Representatives Committee on Shipping Services, Abdulsamad Dasuki (PDP, Sokoto), 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.”

In its presentation, the Nigerian Shipping Lines Association strongly justified the establishment of the agency, saying it would improve efficiency and reduce costs.

Association chairman Boma Alabi (SAN) said any action that would improve efficiency, reduce costs and alleviate the bottlenecks currently facing the port would be welcomed.

Boma said the ports cost the country twice as much as other ports in the region such as the Republic of Benin.

“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 people in the saddle don’t abuse it,” she said.

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

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