Speaker Advocates Urgent Reforms In Maritime Sector

Speaker of the House of Representatives,
Dr Abbas Tajudeen has called for urgent reforms in Nigeria’s maritime and trade sectors.

Dr Abbas made the call while receiving a delegation from the Presidential Enabling Business Environment Council, PEBEC, in his office.

He expressed concern that inefficiencies and bureaucratic delays at the nation’s borders were pushing businesses and shipping activities to neighbouring West African countries.

“I feel really sad that we in Nigeria, in some areas, are doing things differently, I hear complaints about customs bureaucracy and port regulations. The cost and time of shipping goods into Nigeria are, in some cases, double what is required in neighbouring countries,” the Speaker said.

He noted that more than 75% of goods offloaded in the Benin Republic are reportedly destined for Nigeria, a situation he described as troubling.

Dr Abbas also referenced feedback from a recent official visit to Morocco, where concerns were raised over delays and red tape in trade between the two countries.

The Speaker assured the PEBEC delegation that the House would support proposed reforms, particularly those involving the Financial Reporting Council of Nigeria (FRCN) Act and legislative frameworks affecting Free Trade Zones under the Tax Reform Bills.

He explained that the House and Senate had recently constituted a Conference Committee to harmonise versions of the Tax Reform Bills passed by both chambers.

The House would be inviting PEBEC and the committee chair to further examine the proposals, especially as they relate to Nigeria’s commitments to foreign investors in Free Trade Zones, he added.

Princess Zara Mustapha Audu, PEBEC’s Director-General, who led the delegation on behalf of the Vice-President Kashim Shettima, the Chairman of PEBEC presented a letter from the Office of the Vice-President requesting legislative support for enforcement of the FRCN Act.

She noted that implementation challenges were causing concerns within the economic environment.

Princess Audu also highlighted PEBEC’s supervisory role over 69 MDAs with mandates directly impacting Nigeria’s economic landscape.

Oduyemi Odumade, Edited By Grace Namiji