Minister Pledges Support For Passage Of Port Economic Regulatory Agency Bill, 2024.

By Roland Ekama

In a bid to maximize the gains of the ongoing reforms in the maritime industry, Minister of Marine and Blue Economy, Adegboyega Oyetola has canvassed support for the repeal of the Nigerian Shippers’ Council Act CAP N113 LFN and the enactment of the Nigerian Shipping and Port Economic Regulatory Agency Bill, 2024.

Oyetola made the declaration in his keynote address at the 17th International Maritime Seminar for Judges held in Abuja on Monday.

The former Governor of Osun State called on stakeholders to support the growth of the new Ministry created by President Bola Tinubu adding that the maritime sector is a complex and dynamic field that necessitates comprehensive legal and regulatory systems.

He reiterated that the Federal Government places premium on the outcomes and recommendations of the seminar, charging all presenters, discussants and participants to discuss all issues dispassionately as the government is ready to look into all blueprints arising from the seminar with a view to implementing them.

The Minister said,” Since the creation of the Ministry of Marine and Blue Economy, we have been working assiduously to strengthen the institutional and legal frameworks of the Agencies under the Ministry.

“In this regard, the Ministry has recently thrown its weight behind the repeal of the Nigerian Shippers’ Council Act CAP N113 LFN and the Enactment of the Nigerian Shipping and Port Economic Regulatory Agency Bill, 2024, in order to bring it up to speed with current realities and maximize the gains of the ongoing reforms when it is eventually passed in to law.

“I will like to seize the opportunity of this August gathering to solicit for the support of stakeholders and all industry players to give our young Ministry the much needed support in order to succeed in creating a pathway towards diversification of the nation’s economy from oil dependency to non-oil economic prosperity.

According to him, the Nigerian Shippers’ Council and the National Judicial Institute have been actively collaborating since 1995 when the first seminar was held, with the objective of educating and providing the Justices and Judges of the superior courts with Knowledge of the contemporary development in the complex and dynamic subject of admiralty law and practice, as it affects the administration of justice in Nigeria.

He stated that judges, are indispensable in interpreting and applying maritime law to resolve disputes, uphold international standards, and promote justice, pointing out that the seminar is a vital platform for exchanging knowledge, sharing best practices, and addressing the evolving legal issues that impact our maritime domain.

“Maritime law is not just about resolving conflicts at sea; it is about safeguarding the rights and responsibilities of nations, corporations, and individuals. It ensures the protection of the marine environment, the regulation of maritime commerce, and the security of navigation routes.

” The rule of law in maritime affairs underpins the stability and prosperity of the global economy adding that “the esteemed Judges and Justices gathered here today – play a crucial role in shaping the legal landscape that governs our maritime affairs. Your interpretations, and indeed decisions have far-reaching implications, not only for the businesses and individuals operating in the maritime sector, but also for the long-term sustainability and resilience of our blue economy.

Expressing high hopes, Oyetola affirmed that the Nigerian Shippers’ Council’s International Maritime Seminar for Judges will provide a veritable platform for the harmonization and unification of business laws for greater economic integration for African Continent.

He noted that business laws when harmonized would go a long way in enhancing International investment, reduce transportation and transactional costs thus promote the ease of intra and inter African trade which is currently encouraged by African Continental Free Trade Agreement (AFCFTA).