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Speaker Abbas, Minister, Stakeholders Advocate For Creation Of Regulatory Agency
Speaker Abbas, Minister, Stakeholders Advocate For Creation Of Regulatory Agency....KINDLY READ THE FULL STORY HERE▶
The Speaker of the House of Representatives, Rep. Tajudeen Abbas, and the Minister of Blue Economy, Mr. Gboyega Oyetola, have jointly advocated for the establishment of a shipping regulatory agency in Nigeria…..CONTINUE READING
This call was made during a public hearing on the Shipping Council’s repeal and enactment of the Shippers’ Council and Economic Regulatory Bill held in Abuja on Monday.
Supporting this initiative, the Shipping Line Association of Nigeria emphasized the potential benefits of such an agency, including enhanced efficiency and reduced costs. Barr Boma Alabi (SAN), Chairman of the Shipping Line Association of Nigeria, highlighted the need for regulatory measures to address inefficiencies and ensure competitiveness within the shipping industry.
During the hearing organized by the House Committee on Shipping Services, Port and Harbor, Maritime Safety, Education, and Administration, Speaker Abbas emphasized that establishing the regulatory agency aligns with goals of economic growth, development, and diversification, while also bolstering the newly formed ministry.
He outlined the objectives of the proposed agency, including the establishment of an economic regulatory framework, fostering private sector participation, and ensuring competent oversight through clear governance structures.
Echoing these sentiments, Minister Gboyega Oyetola stressed the positive impact such an agency would have on the nation’s economy, emphasizing the importance of the bill’s passage into law.
Chairman of the Committee, Rep. Abdulsamad Dasuki, assured stakeholders of the committee’s commitment to providing the necessary legislative framework for the bill’s enactment, underscoring its significance in fostering an enabling environment for Nigeria’s shipping industry.
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