The Speaker of the House of Representatives, Tajudeen Abbas, along with the Minister of Blue Economy, Gboyega Oyetola, and other stakeholders, on Monday, advocated for the creation of a shipping regulatory agency for the nation.
The call was made in Abuja at a public hearing of the Shipping Council’s Repeal and Enactment of the Shippers’ Council Economic Regulatory Bill which was organized by the House Committee on Shipping Services, Port and Harbor, Maritime Safety, Education, and Administration at the National Assembly Complex.
It was sponsored by the lawmaker representing Jibia/Kaita Federal Constituency, Katsina State, Sada Soli.
Sada said, “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.
He added that the amended bill encompasses critical provisions addressing several key areas essential for the effective functioning of the Nigerian Shippers’ Council.
“It details the structure and responsibilities of the management and staff, establishing a clear governance framework that defines roles and qualifications to ensure competent oversight.
“The bill lays out financial provisions, specifying guidelines for the allocation, management, and auditing of funds, which is crucial for maintaining financial integrity and providing the Council with the necessary resources to perform its duties.
“The bill also addresses offences and penalties, outlining specific non-compliance issues and their corresponding penalties, he said.
The Minister who was represented by the Permanent Secretary, Ministry of Blue Economy, Oloruntola Olufemi said if passed into law, the move would impact the economy positively.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.