Abuja , Nigeria – Speaker of the House of Representatives, Dr. Abbas Tajudeen, has called for swift and comprehensive reforms in Nigeria’s maritime and trade sectors, citing growing concerns over inefficiencies that are diverting shipping traffic and revenue to neighboring countries.
Dr. Tajudeen made the remarks during a meeting with a delegation from the Presidential Enabling Business Environment Council (PEBEC), led by its Director-General, Princess Zara Mustapha Audu, in his office at the National Assembly.
The Speaker expressed frustration over bureaucratic bottlenecks at the nation’s ports and borders, which he said are discouraging trade and increasing the cost of doing business in Nigeria.
“It is disheartening to hear persistent complaints about customs bureaucracy and port inefficiencies,” he said. “In many instances, the cost and time involved in shipping goods into Nigeria are significantly higher than in neighboring countries.”
He noted that over 75 percent of cargo arriving in the Benin Republic is ultimately bound for the Nigerian market—a trend he described as deeply concerning. Dr. Tajudeen also cited insights from a recent official visit to Morocco, where trade partners raised similar concerns about regulatory delays.
Assuring the delegation of the House’s commitment to improving the business climate, the Speaker said lawmakers would back proposed reforms, especially those targeting the Financial Reporting Council of Nigeria (FRCN) Act and regulations governing Free Trade Zones under ongoing Tax Reform Bills.
He added that a Conference Committee, recently formed by both chambers of the National Assembly, is working to harmonize the bills and that PEBEC would be invited to engage further with the committee to align reforms with Nigeria’s international trade commitments.
Speaking earlier, Princess Audu presented a formal letter from Vice-President Senator Kashim Shettima—who chairs PEBEC—seeking legislative backing for the enforcement of the FRCN Act. She also emphasized the Council’s oversight of 69 Ministries, Departments, and Agencies (MDAs) whose mandates directly affect the nation’s economic trajectory.
According to her, implementation challenges continue to hinder progress, reinforcing the need for closer collaboration between the executive and legislative arms.
By Taiwo Olatinwo/ May 15,2025
