The Chairman of the House Committee on Shipping Services, Abdussamad Dasuki, has announced plans to establish a maritime bank in Nigeria to combat capital flight in the country’s maritime industry. During an oversight visit to the Nigerian Shippers Council headquarters in Lagos, Dasuki expressed confidence in receiving support from the House of Representatives and the entire National Assembly for this initiative.

In addition to the maritime bank, Dasuki mentioned that the committee would be engaging with shipowners and other industry stakeholders to brainstorm ways to enhance the sector’s services. He emphasized the importance of turning words into action to achieve tangible results and urged the NSC to provide more information on the one per cent freight stabilisation fund.

The Executive Secretary of the NSC, Pius Akutah, also highlighted the need for approval to implement the one per cent freight fee as part of the government’s plan to make the agency self-funding. This move is crucial as the implementation of the fee could impact the availability of the 2.7 per cent port development levy for the NSC.

The proposed maritime bank and the implementation of the one per cent freight fee are seen as crucial steps towards improving the efficiency and sustainability of Nigeria’s maritime industry. With the support of the legislative and executive branches, these initiatives have the potential to drive positive change and boost the country’s economy.