The House of Representatives has resolved to investigate the poor implementation of the Coastal and Inland Shipping Act 2003 also known as the Cabotage Act.
The poor implementation of the Act, which restricts the use of foreign vessels in domestic coastal trade to promote the development of indigenous tonnage, has reportedly led to a loss of $100 billion annually by the country.
The lawmakers’ decision to probe the poor implementation of the law followed the adoption of a motion moved by Awaji- Inombek Abiante (PDP, Rivers) at plenary on Tuesday.
Moving the motion, Abiante said that the main objective of the Act was to protect indigenous shipping companies, create economic and employment opportunities for Nigerians in the maritime sector.
The lawmaker observed that after 20 years of the enactment of the law, the shipping trade is still dominated by foreign-owned vessels.
The House mandated the relevant committee to investigate the poor implementation of the Act and report to it within four weeks for further legislative action.