Business NSC Reveals Why Nigeria is Regulating her Maritime Industry



The Executive Secretary of the Nigerian Shippers’Council, (NSC) Mr. Hassan Bello in an interview with The #Vanguard has explained the reason the Nigerian government decided to regulate the maritime industry.

According to him, loss of comparative advantage in the cargo clearance chain in the Sub-region by Nigeria to other countries was what informed the decision by government to regulate the Nigerian maritime industry.

He said this loss of comparative advantage was also responsible for the continued patronage of other ports by Nigerian importers.

He also noted that the absence of an economic regulator has made it difficult for Nigerians to reap the full benefits of the port reform programme of government.

"After the implementation of Government’s port reform programme which led to the concession of port terminals to private operators, the Government noticed a disturbing vacuum in the sector, which is absence of an Economic Regulator that will act as a referee in the industry.

“ This vacuum has made it difficult for the nation to enjoy the gains of the program.

He added that "the inefficiency in the procedures and operations of agencies and service providers and even users is adversely affecting and undermining Nigeria’s competitive advantage in international trade”.

The Council’s boss explained that effective regulation requires much more than just competent economic and financial analysis but must also manage often complex interaction with the regulated firms, consumers, politicians, courts, the media, and a range of other interests.

Bello said that much was being expected from the Council, adding that the overall benefit of a regulated port industry will lead improved revenue generation, improved infrastructural development, creation of efficient market, reduction of cost of doing business and improvement of the nation’s Global Competitive Index and consequent attraction of Foreign Direct Investment (FDI).

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