|Dr. Olisa Agbakoba SAN|
institutional and legal framework for the maritime sector, in order to have the
economy benefit from its huge maritime resources, Dr. Olisa Agbakoba, a Senior Advocate of Nigeria (SAN) and prominent Maritime Lawyer, has advised.
Agbakoba gave the advice while reviewing the vital role
of activating development law in economic reforms.
part of economic reforms, considering that there is a strong link between
law, regulatory institutions, governance, economic development and national
estimated to be capable of generating seven trillion Naira annually and
creating over four million jobs over five years.”
with the six Inland Container Depots (ICDs), government needs to implement the
policy to make them serve their economic purpose.
geopolitical zones that can generate at least 15,000 jobs for different levels
and operations by concessionaires, these depots have not been optimally
the legal framework to save revenue losses in the shipping sub-sector.
regime to stem capital flight and boost capacity for Nigeria’s Shipowners.
Despite the enactment of the Coastal and Inland Shipping Act 2003 Nigeria loses
an estimated 7 Trillion Naira in the shipping sector.
regime. This is responsible for capital flight.
critical bills pending before the National Assembly. This would facilitate the
legal framework to move the maritime sector to the next level.
Ports and Harbour Bill, Maritime Zones Bill, Ocean Bill etc. are yet to be
passed into law. There is also an urgent need to review the Nigerian Shipping
Policy of 1987,” Agbakoba said.
judicial framework is hopelessly outdated and needs an urgent review to meet
current challenges. Yet governments generally fail to link legal policy,
economic development and governance.”