The Nigerian Senate has enjoined investors to take advantage of viability of the Nigerian ports to invest in the sector.
This was even as the Chairman, Senate Committee on Marine Transport, Ahmed Sanni Yerima disclosed that senate has passed the Nigerian Ports and Harbours Authority (NPHA) Bill and on the verge of enacting the National Transport Commission (NTC) as an independent multimodal transport sector regulator.
Yerima who stated this at a trade forum organized in Lagos Tuesday in honour of a business delegation from Miami Dade’s County, United States of America (USA) by the Nigerian Ports Authority (NPA) said that for a more efficient maritime sector and maintenance of global shipping standards, the NASS has consistently raised e bar with good laws.
Yerima who was represented by Senator Ovie Omo-Agege, recalled that the Nigerian Maritime Administration and Safety Agency (NIMASA) Act was enacted for the regulation of international shipping within the nation’s maritime domain recently.
“The Senate moved boldly to further re-engineer our maritime sector by passing the NPHA Bill to promote responsible and globally competitive shipping operations in Nigeria. We are also at the verge of enacting an Act to establish the game changing NTC as an independent multimodal transport sector regulator. These laws are designed to give comfort to investors in line with the policies of President Mohammadu Buhari.
“The NPHA law speaks to the NASS collective conviction that our maritime sector can only be truly developed based on global best practices and unique investor friendly incentives. That is why we fully support current reforms being undertaken by the management of the NPA, which is anchored on transparency and due process.
“The new NPHA law is a smart legal framework on responsible ownership management, operation, development and control of Ports and Harbours in our nation. This updated law offers and guarantees the protection and comfort required for business success in the maritime industry. It is an invitation to smart and organized global maritime investors to come to Nigeria to harness grey opportunities.
“Without question, the new NPHA law is a watershed legislative intervention to transform our maritime sector. It offers tremendous opportunities and protections for Foreign Direct Investment (FDI).
“We encourage this August audience to confidently join us as our nation ties concrete steps through our great team of leaders at the NPA to tap our vast maritime opportunities. Added to the wonderful works of the NIMASA, we are confident that we are on the right tract as a nation in our maritime industry.”
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