The Speaker of the House of Representatives, Hon Tajudeen Abbas, and the Minister of marine and Blue Economy, Mr. Gboyega Oyetola, have pushed for the establishment of a shipping regulatory agency in the country.

The Speaker and the Minister jointly canvassed for the establishment in Abuja during a public hearing on the Shipping Council's repeal and enactment of the Shippers' Council and Economic Regulatory Bill in Abuja, Monday organized by the House Committee on Shipping Services, Port and Harbor, Maritime Safety, Education, and Administration

The speaker who was represented by Hon Sada Soli said, the move to establish the regulatory agency was geared toward economic growth, development, and diversification, as well as strengthening the new ministry stressing that, this re-enactment seeks to ensure that the proposed agency establishes an economic regulatory framework for effective and efficient regulation of commercial and related activities in the shipping and port sectors.

The Minister Marine and Blue Economy, who was represented by the Permanent Secretary of the ministry, Oloruntola Olufemi, while canvassing for the need to establish the regulatory agency, said it would improve the nation's economy and it would be a welcome development if the bill became an act

The Chairman of the Committee, Hon Abdussamad Dasuki, promised to provide the legislative framework that would allow the bill to become an act.

Also Speaking, Executive Secretary/CEO Nigerian shipper’s Council Pius Akutah said, the bill if passed would create an enabling environment for private sector investment in the provision of regulated services in Nigeria

Barrister Boma Alabi (SAN) chairman The Shipping Line Association of Nigeria said, any act that will improve efficiency, lower cost, and reduce the bottleneck that the currently is faced with will be most welcome.