The Speaker of the House of Representatives, Hon. Aminu Tambuwal, on
Tuesday in Abuja decried the misappropriation of the cabotage vessel
financing funds.
Tambuwal made this observation at an investigative hearing organised
by the House of Representatives ad hoc committee to investigate the
application of the cabotage vessels financing fund.
The cabotage financing funds is aimed at promoting the development of
indigenous ship acquisition capacity by providing financial assistance to Nigerian operators.
Tambuwal said that in spite of the enactment of the cabotage Act in
2003, the Nigerian inland water ways remained “grossly a wasteland.
“The fear is that some unpatriotic people are misapplying the cabotage
vessel financing funds to the detriment of its objectives.”
According to him, the maritime sector has over the years, suffered
from ineptitude caused by poor regulatory frame work.
The speaker said the hearing was not aimed at witch-hunting any
individual or group, but aimed at repositioning the sector.
The speaker was represented at the occasion by the Deputy Leader of
the House, Hon. Leo Ogor (PDP-Delta).
In his presentation, the Minister of Transport, Alhaji Idris Umar,
said that following the approval of the implementation guidelines,
four banks were appointed as Primary Lending Institutions.
Umar said that beneficiaries of the cabotage fund were Nigerians and
shipping companies wholly owned by Nigerians.
Umar said that the ministry had embarked on due diligence to ascertain
that the funds were disbursed to bonafide beneficiaries.
The minister said that the waivers granted 10 Nigerian firms in 2010
were in accordance with the extant laws and guidelines.
He said that a committee had been set up to review the policy
guidelines for granting of ministerial waivers on cabotage.
According to him, the committee has prepares a draft policy guideline
and is awaiting approval.
Earlier, the Chairman of the committee, Hon. Christopher Eta
(PDP-Cross River), said that it was the desire of the House to ensure
that the cabotage Act was implemented.
Eta said that the essence of enacting the cabotage law was to develop
the indigenous shipping industry in the cabotage sector of Nigerian
maritime.
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