Economic Group Hails Speaker Abbas for Championing Shipping and Port Regulatory Agency Bill

A coalition of business leaders, stakeholders, and advocates for economic growth and development in Nigeria has commended the Speaker of the House of Representatives, Rt. Hon. Abbas, for his visionary leadership and unwavering commitment to the Nigeria Shipping and Port Economic Regulatory Agency Bill.

The Economic Freedom Advocacy (EFC), in a statement on Wednesday, said the Speaker’s dedication to seeing this bill become a reality is proof of his clear understanding of the importance of a well-regulated shipping industry to Nigeria’s economic development.

In the statement signed by Mohammed Matazu, the group said the bill is critical legislation that will promote transparency, accountability, and good governance in the shipping industry and it is soothing to see the Speaker champion this milestone.

“The bill will establish a modern and effective regulatory framework that will protect the rights of shippers, promote competition, and enhance trade efficiency,” he added.

“We are pleased that the bill includes provisions for consumer protection, dispute resolution, and enforcement mechanisms to ensure compliance with the law. These provisions demonstrate a clear commitment to promoting the interests of Nigerian shippers and other stakeholders.

“We applaud the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abass, for his leadership in seeing this bill become a reality. His efforts demonstrate a clear understanding of the importance of a well-regulated shipping industry to Nigeria’s economic development.

“His commitment to promoting economic prosperity and job creation in Nigeria is evident in his tireless efforts to ensure the passage of this bill, and we are grateful for his contributions to the growth and development of our great nation.” 

The group, therefore, urged the National Assembly to expedite the passage of this bill and the President to sign it into law without delay.

“This legislation has the potential to bring numerous benefits to the shipping industry, including improved transparency, accountability, and competitiveness,” Matazu added. 

“We believe that the Nigeria Shipping and Port Economic Regulatory Agency Bill is a critical step towards promoting economic growth, enhancing trade efficiency, and protecting the rights of shippers and other stakeholders. We are confident that with its passage, Nigeria will take a significant step towards becoming a leading player in global trade.”