Reps adopt report on establishment of Cabotage Vessel Financing Fund

The House of Representatives on Tuesday adopted the recommendations of its Committee on the Bill which seeks to restrict operations of commercial activities across the inland and coastal shipping (Cabotage) to domestic vessels as well as promote and develop indigenous capacity to thrive within the maritime sector of the nation.

The resolution was passed after the adoption of Clauses 1 to 15 of the report laid by the House Committee on Maritime Safety, Education and Administration, presented by Hon. Lynda Chuba Ikpeazu.

The bill seeks to amend the Coastal and Inland Shipping (Cabotage) Act, No. 5, 2003 to restrict the use of foreign vessels in domestic, coastal and inland commercial activities, to promote the development of indigenous tonnage, as well as seeks to establish a Cabotage Vessel Financing Fund and for related matters.

While speaking on the synopsis of the report, Hon. Ikpeazu expressed optimism that the proposed amendment will remove all restricting bottlenecks limiting this local development that will ensure that domestic practitioners can compete favourably with their international counterparts who will also need to patronize them within domestic coastlines.

Also at plenary, the House passed through Second Reading a bill for an Act to Amend the Standard Organisation of Nigeria Act to provide for the inclusion of a representative from Federal Ministry of Petroleum Resources in the Standards Council of Nigeria.

The proposed bill also seeks to expand the scope and functions of SON to include investigation and quality assurance certification of petroleum products, co-sponsored by Hon. Sergius Ogun and Ganiyu Abiodun Johnson.

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The lawmakers observed that the proposed legislation seeks to enhance the effectiveness and efficiency of SON, in ensuring quality of products (especially petroleum) and improving the fight against substandard or fake products in the country.

In his lead debate, Hon. Ogun said when enacted, the bill would apart from enhancing the effectiveness of SON, strengthen it in the fight against substandard products and goods which now spreads across almost all sectors of the Nigerian society.

He said: “One of the primary government agencies saddled with the responsibility of regulating product standard in Nigeria is SON. Specifically, the SON is mandated to among other things, prepare standards relating to products, measurements, materials and processes among others, and their promotion at the national, regional and international levels.

“It is also mandated to provide capacity for local production of quality goods and certify industrial products, to mention a few. The SON Act makes provision for the Standards Council of Nigeria.

“The Council, among other functions, is mandated to advise the Federal Government on the national policy on standards, standards specifications, quality control and metrology.

“It is also mandated to provide necessary measures for quality control of raw materials and products in conformity with the standard specification.

“Some of the members of the Council, are the following ministries. Namely; Rural and Agricultural Development, Defence, Trade and Investment, Finance, Works and Housing, Health, and Science and Technology.”

Hon. Ogun said, despite the centrality of the petroleum sector in the Nigerian economy, the Ministry of Petroleum Resources is/was omitted from the Standards Council of Nigeria membership, hence the need for the proposed amendment.