Nigeria’s House of Representatives Passes Bill to Restrict Foreign Vessels
The House of Representatives in Nigeria has passed a bill to restrict foreign vessels in domestic coastal and inland waters, aiming to promote local shipping and establish a financing fund. Sponsored by Julius Ihonvbere, the bill seeks to enhance indigenous participation and ensure better utilization of Nigeria’s marine resources. The legislation awaits presidential approval for enactment.
The House of Representatives in Nigeria has successfully passed a bill aimed at limiting the usage of foreign vessels within the nation’s coastal and inland waters. The proposed legislation, titled the Bill for an Act to Amend the Coastal and Inland Shipping (Cabotage) Act, No. 5, 2003, seeks to restrict foreign vessel participation in domestic activities, foster the growth of indigenous shipping, and establish a Cabotage Vessel Financing Fund. Sponsored by Julius Ihonvbere, the bill was subjected to its third reading during a plenary session on Wednesday.
Julius Ihonvbere, leading the debate, expressed strong concerns regarding foreign vessels encroaching upon Nigeria’s coastal waters. He highlighted that these vessels have significantly exploited the country’s marine resources over the years. Furthermore, he criticized the failure of foreign vessels to build the capacities of local shippers, who remain largely marginalized and without opportunities to realize their full potential.
The lawmaker noted, “It got to a point where we could hardly count the number of local shippers operating in international waters.” Emphasizing the importance of the bill, he asserted that it would enhance local participation in maritime trade while restricting foreign access to Nigeria’s waters. Moreover, he indicated that the legislation could stimulate local businesses, generate employment opportunities, and improve security across the nation’s inland waterways.
The bill did not face any opposition during the voting process, with a majority of lawmakers endorsing its third reading. It is now pending presidential approval by President Bola Tinubu to be enacted into law.
The passage of this bill marks a significant step in promoting indigenous shipping and protecting Nigeria’s marine resources from foreign vessels. The legislation aims to enhance local industry participation, provide job opportunities, and ensure the security of inland waterways. Awaiting presidential assent, this bill represents a pivotal moment in Nigeria’s maritime legal framework.
Original Source: businessday.ng
