The Senate and the Reps joint committee on Ports and Harbours have taken steps on Tuesday for Nigeria to tap into the $1.8 trillion blue economy potential as well as improve revenue generation through the maritime industry.

This is as the lawmakers asked the Minister of Blue Economy, Chief Adegboyega Oyetola, about the need for Nigeria to take the bold step.

The Minister said that the plans to dredge some of the nation’s ports is to be able to accommodate bigger vessels, while plans are on to build new ports in parts of the country.

Oyetola also said that about $1.2 billion was required to fix the decay in the nation’s ports.

He spoke just as the lawmakers said there was the need for Nigeria to tap into the $1.8 trillion Blue Economy potentials as well as improve on revenue generation through the Maritime sector.

The Minister, who expressed concern about the attitude of importers and shippers who abandon the nation’s ports and divert vessels to neighbouring countries stressed the need for adequate funding for the dredging of various ports to enable them to take big vessels.

He disclosed that the Ministry was discussing with the World Bank and other stakeholders to address the infrastructural decay at the Tin Can Inland and other ports in the country.

Oyetola assured of the determination of the Ministry to adopt technology as well as the National Single Window policy to reduce the level HB of the human interface as well as reduce the man-hour spent on the clearance of cargoes at various ports across the country.

On the installation of scanners at the ports for effective operation, he said the management of Nigeria Customs Service (NCS) was positively disposed to the use of scanners at the ports, but underscored the need for attitudinal change.

The Minister solicited the support of the Parliament on the establishment of Coastal Guard in the bid to ensure safety at the various Ports and boost revenue through fishery in the Blue Economy industry as part of efforts to reduce $4 billion spent on the importation of fish into the country annually.

While noting that not less than 28 States are connected to water, he underscored the need for massive investment in the dredging of waterways for improved water transportation.

Speaking on the 2023 budget of the Ministry, the Minister explained that the total capital appropriated for marine-related programmes in 2023 was N777 million, out of which N448,027,468 has been utilised as at the end of November 2023.

He said further that in the 2024 budget proposal, the Ministry proposed N10,781,130,916 as the total capital budget while the sum of N191,086,917 as overhead expenditure.

He observed that three of the agencies under the ministry, namely NPA, NIMASA and NSC are fully self-funding and make reasonable remittances to the Consolidated Revenue Fund (CRF/TSA) while National Inland Waterways Authority (NIWA), Maritime Academy of Nigeria, Oron and Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) derive their funding from both the Federal Government Budget and Internally generated revenue.

The lawmakers however expressed regrets over the reported loss of over N1 trillion in revenues due to poor infrastructure in the maritime industry, while frowning at the non-provision of funds in the 2024 budget for the acquisition and installation of scanners at various ports as part of ongoing efforts geared toward making the nation’s ports competitive.

The lawmakers concerned over the activities of shippers/importers who abandoned Nigerian Ports to berth at the ports owned by neighbouring countries, as well as a roadmap towards addressing a myriad of challenges facing the industry.

The lawmakers queried the Ministry over the underutilization of N130 million released for rehabilitation, utilisation, and patronage of eastern ports; monitoring for navigational channels Calabar River Port; Women empowerment on maritime- maritime-related activities, World Seafarers Day and world women in Maritime International Day; Coordination of process of establishing/designating a National Career (Shipping); International seabed Authority (ISA)/United Nations Convention on the law of the sea (UNCLOS) and Development of Inland Dry Ports including Ministerial Standing Committee on delivery of Inland Dry Ports. (Daily Independent)

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