Business
Council Wants FG To Review Maritime Laws
Chairman, Ports Consultative Council (PCC), Chief
Kunle Folarinon last Tuesday asked the Federal Government to review obsolete
maritime laws to move the industry forward.
Speaking
at the Maritime Excellence Awards organised by the Maritime Reporters’
Association of Nigeria (MARAN) in Lagos, Folarin said that “government must
build a maritime industry that can be ranked among the best globally’’.
“Legal
instruments such as the Shipping policy, Cabotage Act, National Inland
Waterways Authority Act, Nigerian Shippers’ Council Act, the Nigerian Maritime
Administration and Safety Agency (NIMASA) Act, and the Nigerian Ports Authority
(NPA) Act should be reviewed,’’ he said
He
said that in the pre and immediate colonial era, the maritime sector had been
the anchor and arrow head of all economic endeavours of government, stressing
that the Nigerian maritime resource was an economic agenda.
Folarin said that it could be
argued that Nigeria’s maritime resources were the most potent and most dynamic
of all other resources including oil, gas, minerals and agriculture.
“Mineral resources and other
extractive industries, agricultural productions, both consumptive and cash
crops have not presented any competition to the potential of the maritime
sector,’’
“It could also be debated that
the importance of the eventual contribution of the oil and gas industry to the
economy cannot match that of the maritime industry,’’ the PCC Chairman said.
Folarin also asked government
to create a maritime development bank as done in other sectors, saying that
“industries have bank of industry; estate and housing also have their own
banks.
Mr Bolaji Akinola, President
of MARAN said Nigerian ship owners were complaining much louder than ever
before despite almost a decade of the cabotage regime.
According
to him, a good chunk of the vessels owned by local operators are sitting idle
in the outer bar with no jobs to do. He said that many Nigerian ship owners were
laying off their staff, adding that those that were not laying off their staff
were not paying salaries as at when due.
“The
only concrete change that one has seen in the sector in ten years is the
concession of terminal operation at the seaports which has induced efficiency
into port operation in the country.
“Even
at that, cargo dwell time at our ports is still the highest in Sub-Saharan
Africa,’’ he said.
According
to him, while condemning the proliferation and bastardisation of awards and the
process of conferring most of them on recipients, let me assure that the MARAN
awards are different.
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Business
Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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