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According to its synopsis, the bill seeks to create a robust economic regulatory framework that prevents unfair practices, promotes fair pricing, and encourages competition. The speaker said the mandate of the Nigerian Shippers’ Council has evolved significantly from its original role as a protector of shippers’ interests, noting that “it has now become the economic regulator of the entire Nigerian port system, a responsibility that extends beyond the Nigerian Ports Authority.”PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible.
“To effectively fulfil its expanded mandate as the Port Economic Regulator, it is imperative, therefore, that the necessary legislative bill is passed. This bill will formally empower the Council, providing it with the authority and tools required to oversee and manage the economic activities within Nigerian ports, ensuring efficiency, fairness, and competitiveness across the sector,” he said.
“We must be more efficient, and we welcome this regulatory agency that will be created to make things more efficient. At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.