We’ll establish shipping regulatory agency to boost economy, efficiency – Abbas

By Christiana Ekpa

In a bid to enhance economic growth, development, and diversification, the Speaker of the House of Representatives, Rep. Tajudeen Abbas, and the Minister of Blue Economy, Gboyega Oyetola, have jointly called for the establishment of a shipping regulatory agency in Nigeria.
The agency, which will be created through the repeal and enactment of the Shippers’ Council and Economic Regulatory Bill, aims to improve efficiency, reduce costs, and strengthen the new ministry.”
The Speaker and the Minister jointly canvassed for the establishment in Abuja during a public hearing on the Shipping Council’s repeal and enactment of the Shippers’ Council and Economic Regulatory Bill in Abujanon Monday.
The Shipping Line Association of Nigeria also made a strong case for the establishment of the agency, adding that it would improve efficiency and lower cost.
Barr Boma Alabi (SAN), Chairman, Shipping Line Association of Nigeria, said that any act that will improve efficiency, lower cost, and reduce the bottleneck that we currently face will be most welcome.
She stated that the Nigeria Port cost the country twice as much as others in the region, such as the Benin Republic, adding that there was a need to ensure that shopping businesses did not move away from Nigeria.
“We must be more efficient, and we welcome this regulatory agency that will be created to make things more efficient.
“We have expressed our concern internally and externally, and this committee, which has been involved in this process, must work on some areas of concern.
“There are aspects that should be expunged, like sections 40, 42, 52, and a few others; we understand the reason behind this.
“We need to put in some checks and balances so that those in the saddle will not abuse it.”
The public hearing was organised by the House Committee on Shipping Services, Port and Harbor, Maritime Safety, Education, and Administration in Abuja.