Bizman Wants Cabotage Law Implementation

The Group Executive Vice Chairman of SIFAX Group, Dr Taiwo Afolabi has urged the Federal Government to put processes in place for the implementation of the Nigerian Cabotage Law.
Afolabi made the plea in a statement made available to newmen on Friday in Lagos by the Corporate Affairs Manager of the company, Mr Muyiwa Akande.
He said the non-implementation of the Cabotage law had negatively affected the capacity of the maritime industry and its practitioners to maximally contribute to the nation’s economic growth.
According to the statement, Afolabi who spoke on a platform of the Institute of Directors (IOD), said the Cabotage law was designed to primarily deepen the participation of Nigerian maritime practitioners in the international maritime business and give them more stakes in the local maritime industry.
He said the law made provisions for domestically-owned and Nigerian-registered vessels to have exclusive opportunity of engaging in the domestic coastal carriage of cargoes and passengers within the coastal territorial inland waters of Nigeria.
“This is presently not a reality in the maritime sector and making the Nigerian economy lose out greatly,’’ Afolabi said.