Senators and members of the House of Representatives, have frowned at the loss of over N1 trillion revenue due to poor infrastructure in the maritime industry.
The lawmakers expressed the concern during the 2024 budget defence held at the instance of the joint Committees on Ports & Harbours and other Standing Committees.
They also expressed concerns over the activities of shippers/importers who abandoned Nigerian Ports to berth at the ports owned by neighbouring countries, as well as roadmap towards addressing myriad of challenges facing the industry.
The Lawmakers who questioned the non-provision of funds in the 2024 budget proposal, called for acquisition and installation of scanners at various ports as part of ongoing efforts geared toward making the nation’s ports competitive.
They also tasked tasked the Minister of Blue Economy on the need for Nigeria to tap into the $1.8 trillion Blue Economy potentials as well as improve on revenue generation through the Maritime industry.
The Minister of Blue Economy, Mr Adegboyega Oyetola disclosed the Ministry’s plans to dredge some of the existing ports while efforts are being intensified to build new ports in various locations across the country, including Badagry in Lagos State and Ondo State.
While admitting that shippers divert vessels to neighbouring countries, Mr Oyetola stressed the need for adequate funding for the dredging of various ports so as to enable them to take big vessels.
The Minister who expressed displeasure over the level of infrastructure decay at the Tin Can Inland and other ports during his official assessment of the ports on assumption of office, disclosed that about $1.2 billion will be required to fix the ports, adding that he has started discussion with various stakeholders including World Bank and other banks as well as Contractors on the funding of the project.
He also solicited for the support of the Parliament on the establishment of Coastal Guard in the bid to ensure safety and Nigerian Ports, and boost revenue through fishery in the Blue Economy industry as part of efforts to reduce $4 billion spent on importation of fishes into the country.