The Nigerian government have made moves to tighten control over its waters as the House passes a bill limiting foreign vessel in domestic shipping.
The House of Representatives has taken a decisive step to limit foreign vessels operating in Nigeria’s coastal and inland waters, aiming to strengthen local participation in maritime trade.
Key Provisions Of The Bill
On Wednesday, lawmakers read the Coastal and Inland Shipping (Cabotage) Act Amendment Bill (HB.1593) for the third time in plenary.
Julius Ihonvbere, who sponsored the bill, designed it to restrict foreign involvement in domestic shipping, promote indigenous shipping capacity, and establish a Cabotage Vessel Financing Fund to support local operators.
Consequently, the bill seeks to give Nigerian businesses a competitive edge.
Foreign Vessels Under Scrutiny
During the debate, Ihonvbere strongly criticised foreign vessels for exploiting Nigeria’s marine resources while sidelining local shippers.
“For years, foreign vessels have shut out our own shippers,” he argued.
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“At one point, we could hardly count the number of local operators in international waters.”
Impact On Local Businesses
He further explained that the bill would open up opportunities for local businesses, create jobs, and improve security on Nigeria’s inland waterways.
Moreover, it would encourage investment in the country’s maritime sector, ultimately boosting the national economy.
Next Steps: Awaiting Presidential Assent
Without any opposition, lawmakers quickly voted in favour of the bill’s passage.
Now, the next step depends on President Bola Tinubu, who must sign it into law.
If he grants his approval, the new legislation will shift control of Nigeria’s maritime industry, reducing foreign dominance and empowering local players.
