Federal Govt Seeks Out-of-court Settlement With Terminal Operators, Shipping Companies

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The federal government, over the weekend, said it is considering an out-of-court settlement with terminal operators and shipping companies over arbitrary

Dr Ajani informed that Nigerian Shippers’ Council was appointed as the interim port economic regulator in 2014, as a government response to fill the vacuum and address the challenges facing the port system.

She reiterated that the NSC remains the port economic regulator and enjoined stakeholders and the entire maritime industry to give the Council the needed cooperation in the execution of these regulations. While stressing the need to develop the nation’s industrial base in balancing trade and boosting the nation’s economy, Jime noted that, the port has a critical infrastructure that needs to be made competitive, guard against monopoly and free for numerous players.

On his part, the managing director of the Nigerian Port Authority, Mohammed Bello-Koko said, the NSC has come into a tight- packed sector of government which is the maritime industry, adding that, all stakeholders need to adjust and accommodate its regulations which are already backed up by law.

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