news-details

Lawmakers seek overhaul of maritime law to grow economy

At the event, the House Committee on Maritime Safety, Education, and Administration highlighted the need to revisit the 17-year-old NIMASA Act.

In a statement issued on Saturday, House spokesman, Akin Rotimi noted that the lower legislative chamber was represented at the event by the Chairman of the Committee, Khadijah Ibrahim (APC, Yobe) and Adebayo Samuel (APC, Lagos).

Areas of the amendment proposed by Adebayo include the modernisation of terms-replacing “Free on Board” with “Cost, Insurance and Freight,” in line with contemporary practices, introduction of an open international registry and enhancing prosecutorial powers of the agency.

Others will include strengthening Clause 17 (7) to enhance financial autonomy as well as improving coordination and avoiding duplication of functions among government agencies.

According to the statement, “Stakeholders and experts at the event emphasised the critical need to increase cargo allocations for indigenous shipowners.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market