In a bid to remove obstacles hindering the growth of Nigerian shipping sector, the Nigerian Shippers Council (NSC) is seeking for a new a act the will open up the industry to compete, while setting specific roles that will guide operation for efficiency.
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Speaking at the stakeholders public hearing of the new bill on Monday before the House Committee on Shipping Services and Committee on ports and harbor in Abuja, the Executive Secretary of NSC, Barrister Puis Akutah said the proposed new regulatory framework will encourage more private sector participation in the sector.
The ES explained that the bill seeks to enhance efficiency, promote ease of doing business, and create cost-effectiveness in the shipping sector while promoting seamless cargo movement within and outside African continent.
“If passed into law, the bill will promote competition, ensure consumer protection, and elevate service quality standards. It mandates all stakeholders to adhere to regulations, preventing monopolistic practices, excessive pricing, and arbitrary behaviors. Regulators will be empowered to enforce rules impartially and provide necessary administrative and political support.”
Akutah further stated that to maintain a level playing field and uphold fair trade practices without adding undue financial burdens, the bill proposes retaining the 1% fair standardisation fee as a funding source.
He said the proposed bill, if enacted, promises to revolutionise the industry, creating a conducive environment for business growth, investment, and job creation while safeguarding consumer interests and promoting fair competition.
The NSC boss notes that the legislative move aims to transform Nigeria’s shipping and ports sector into a dynamic force for economic growth, revenue generation, and employment sustainability.
In his address, the Speaker of the House of Representative, Tajudeen Abbas reaffirmed that the bill will empower shippers council with the needed authority to oversee and manage the economic activities within Nigerian’s maritime sector.
Represented by Sani Suli, the Speaker stated that the new legislative work seek to streamline procedures and eliminate any constraints that were present in the 2004 Ac.
He explained that the reenactment of the new bill will not only ensure an economic regulatory framework for NSC for effective regulation of commercial activities in the shipping port sector, but the bill will also create friendly environment for private sector participation for the growth of the industry.
“The bill lays out financial provisions, define 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,” he noted.
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