In a move to fight redundancy in the maritime sector, the Indigenous Ship-Owners Association of Nigeria (ISAN), has called for the speedy implementation of the cabotage law in order to fast track activities in the industry.
The chairman of ISAN, Chief Isaac Jolapamo who made the call in a statement, expressed worry over the failure of the Cabotage-shipping regime in the country, saying that the call became necessary in order to encourage indigenous participation in the shipping business.
He said apart from the movement of goods and services within the country and the revenue collected as tax from shipping companies, the act would also speed-up the growth of the transportation sector and reduce the pressure on roads as well as subsequent damage due to the collapse of the railway system.
Jolapamo, said the act is a major aspect of the transformation agenda and has the capacity of the much-desired industrialisation, driven by huge spending and mega projects in the oil and gas industry.
As contained in the federal government’s blue print, it is believed that the effective implementation of the Act will result in the retention of $10 billion of $20 billion average annual industry expenditure, creation of over 30,000 direct employment and training opportunities, establishment of three to four pipemills to service industry demands and the development of one or two dockyards, he noted.
According to him, the development, will bring to life, redundant dockyards, pointing out that the Act will also allow indigenes to own 240 out of 400 marine vessels, integration of indigenes and businesses operating in oil producing areas. This will equally help to get back over 50-70 per cent of banking service, insurance risk placements and legal services, he added.