Key figures, including the Speaker of the House of Representatives, Tajudeen Abbas, and the Minister of Blue Economy, Gboyega Oyetola, have urged the creation of a national shipping regulatory agency. The call was made during a public hearing in Abuja on the Shipping Council’s Repeal and Enactment of the Shippers’ Council and Economic Regulatory Bill.
The hearing, organized by the House Committee on Shipping Services, Port and Harbor, Maritime Safety, Education, and Administration, took place at the National Assembly Complex. Representing the Speaker, lawmaker Sada Soli emphasized that the new agency aims to enhance economic growth and development while strengthening the new ministry. The proposed legislation seeks to establish a regulatory framework for effective management of commercial activities in the shipping and port sectors, covering management structure, financial provisions, and compliance measures.
Minister Oyetola, represented by Permanent Secretary Oloruntola Olufemi, stated that the agency would positively impact the nation’s economy. Committee Chairman Abdulsamad Dasuki assured that lawmakers are committed to fast-tracking the legislative process for the bill.
Boma Alabi, Chairman of the Shipping Association of Nigeria, expressed support for the agency, highlighting its potential to improve efficiency and reduce costs. However, she noted the need to amend certain sections of the bill to prevent abuse of power.
Pius Akuta, Executive Secretary of the Nigerian Shipper’s Council, explained that the bill addresses regulatory gaps that have allowed arbitrary tariffs, impacting Nigeria’s international trade competitiveness. The proposed agency would ensure fair practices, promote transparency, and digitalize cargo processes. Financially autonomous, the agency would be funded through government grants, fees, and other operational revenues.
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