The House of Representatives in Nigeria has passed a bill to limit foreign vessel operations in coastal and inland waters. Sponsored by Julius Ihonvbere, it aims to support local shipping businesses and create jobs. The bill awaits presidential assent to become law.
The Nigerian House of Representatives has approved a bill restricting foreign vessels from operating in the nation’s coastal and inland waters. This legislative initiative, formally known as the Bill for an Act to Amend the Coastal and Inland Shipping (Cabotage) Act of 2003, aims to bolster local maritime activity and promote indigenous tonnage development. Sponsored by Julius Ihonvbere, the bill emphasizes the need to enhance local shipping capacity while establishing a Cabotage Vessel Financing Fund.
During the debate, Ihonvbere highlighted concerns about foreign vessels exploiting Nigeria’s marine resources without adequately supporting local shipping businesses. He asserted that local shippers have been marginalized in maritime operations, with situations becoming dire enough that few can be counted in international waters. The bill seeks to empower local businesses, create jobs, and improve the security of Nigeria’s inland waterways by limiting foreign access to its waters.
After the bill’s third reading, it received majority support with no substantial opposition. The proposed legislation now requires presidential assent from President Bola Tinubu to be enacted into law. If approved, this reform aims at fostering a more self-sufficient maritime industry in Nigeria and ensuring the future viability of local shippers.
The recent passage of the bill in the Nigerian House of Representatives represents a significant shift towards enhancing local maritime capabilities. By restricting foreign vessel usage, the legislation seeks to bolster indigenous shipping, create job opportunities, and protect national interests in the marine sector. The bill awaits final approval from President Bola Tinubu, which could lead to transformative changes in Nigeria’s maritime industry.
Original Source: businessday.ng
