Agbakoba: N4tn Revenue Derivable from Cabotage Law Implementation

* Says Nigeria is technically insolvent

A former President of Nigerian Bar Association (NBA) and Senior
Advocate of Nigeria (SAN), Mr. Olisa Agbakoba, Wednesday in Lagos
slammed the federal government for failing to tap into the huge
potential of the maritime sector, stressing that if the Cabotage
law alone is well applied, the federal government would earn over
N4 trillion annually in revenue.

He stated this in an interview with journalists on the sideline
of focus group meeting themed: ‘Shipping Policy: A Catalyst for
Maritime Growth,’ put together by the Nigerian Chambers of
Shipping.

Agbakoba, who also described Nigeria as technically insolvent
because it has a huge liability compared to its assets, said the
country is technically challenged because the federal government
has failed to tap into the enormous potential in the maritime
sector to turn its fortunes around.

According to him, “Nigeria is technically challenged. Nigeria is
what econometrists call a technically insolvent country because if
you line up our assets and our liabilities, the government cannot
pay. If consultants are called to look around, they will say,
‘these guys are not insolvent they are just stupid.’ So, we need to
have people in government that will understand that this is a
sector that is bleeding. Once they understand it, you will see what
will happen.

“If Cabotage law is well applied, it will give Nigeria over N4
trillion in revenue. Transportation is a huge business. Why do you
think the President of the United States of America, Donald Trump
is changing American trade policy? Actually, it is with the
maritime sector that you wrap around policy. If ever I am opportune
to be Nigeria’s president, I am going to hike up the entire tariff
because Nigeria is a dumping ground in anything.”
Agbakoba also urged the government to ensure that all government
procurements are bound to be carried on Nigerian vessels.

He added: “When I was reading all the various laws relating to
cargo movement, let us just take Bonga; when a Nigerian government
signs a Production Sharing Contract (PSC) with an International Oil
Company (IOC), all they see is a barrel of oil. They don’t see the
34 by-products. I can name four: shipping, insurance, banking and
law. That is why we are fighting for Free on Board (FOB) to be
scrapped for PIF.

“IOCs like Shell are so happy with what is currently obtainable.
For them, the government only sees the price of crude oil. Who
carries our crude? No Nigerian company currently carries Nigeria’s
crude, which is the problem. We have a procurement policy that
disfavour Nigerians. If you just talk about procurement and cargo
movement you are looking at about 100 vessels and work. We need to
have a trade policy that takes into account economic nationalism. A
technically insolvent can only survive like this.”

On what the government can do to harness the sector’s potential,
he said the government must first have a high policy level player,
adding: “The policy level player in government that oversee
shipping today is the director of maritime services. It is way too
low and he is in a small department, which is why I call for a
minister for shipping because you have a minister for aviation.

“But I also see the point that it might also be too disparate,
in that case, we need an integrated Ministry of Transportation,
which will include roads, rail, shipping and aviation. It should be
just like the UK where the Secretary of Transportation has four
Under Secretaries with each of them running a sector. If maritime
is not even mentioned in the government’s Economic Recovery and
Growth Plan (ERGP) then you can imagine.

“The problem with shipping is that it is invincible; it is not
like a bank that you will see its building, which is the problem I
have discovered in the last 40 years I have been in the maritime
sector. People don’t remember it but it is a huge industry.”

On the lack of policy direction and what is needed to be done,
he said Nigeria has to build the building blocks first.

He said: “Without the government realising that this is a big
sector we are going nowhere. They simply have to realise that the
shipping sector is huge. When they realise it then they start
asking, ‘how do we get it done?’ That is when the experts will come
in. Right now you can see that we are even struggling to be noticed
in an economy that is bleeding.

“The Nigerian maritime industry can generate N7 trillion
annually because of its huge potential and as you know Nigeria is
challenged in terms of its fiscal responsibilities and
unemployment.

“From the discussion here you can see that the potential is so
huge. Ghana is now taking over from Nigeria as the shipping hub,
even in the aviation sector, because I work in both sectors. Togo
is now the hub for airlines like Emirates. How is it that a country
of 180 million people lead by a so-called government can’t see the
potential and yet we talk about poverty? The maritime sector can
turn the Nigerian economy around but is the government showing
enough interest? The government has to create the enabling
environment.”

DSS Calls for Inter-Agency Collaboration to tackle
insecurity
… Colonel Nwachukwu Becomes Chairman FOSSRA

The Director-General, Department of Security Service (DSS),
Yusuf Magaji Bichi has underscored the paramount importance of
effective collaboration and mutual synergy among security
agencies.

He said the dynamics of contemporary threats such as kidnapping,
terrorism, insurgency, cattle rustling, cybercrime and other forms
of organized criminal activities like human, drug and currency
trafficking, which are confronting Nigeria require joint efforts,
especially by security agencies, to combat them.

The DSS boss made the call at the monthly meeting of the Forum
of Spokesperson of Security and Response Agencies (FOSSRA) and the
inauguration of the new Chairman of the forum and Defence
Spokesperson, Colonel Onyema Nwachukwu in Abuja.

Magaji Bichi maintained that security and law enforcement
agencies must continue to collaborate and partner not only to
ensure national security but also to provide an environment that
will help Nigeria attain her development goals economically,
politically, socially and culturally.

As part of global best practice and effective approach to
security management, he noted that partnership and collaboration
among stakeholders is imperative.

Said Bichi: “Today, our country is bedeviled with multifarious
security challenges. We must, therefore, be resolute and remain
strong in the face of these challenges. Each agency must bring its
wealth of experience and comparative advantages to compliment the
effort of another. With unity of purpose, we can surmount the
challenges and keep Nigeria one and free from violence and
crime.”

The DSS Director-General commended the members of the forum and
appeal to them to bring up ideas that will build trust and promote
public confidence in security agencies.

“FOSSRA was created so as to help the various security agencies
speak with one voice on issues of national security interest and
seamlessly coordinate emergency/disaster response where necessary.
I have no doubt that the objective is so far been assiduously
pursued. The positive impact is obvious.

“As public speakers for various security agencies, I urge you to
continually use language that conforms to democratic culture. And
in order to successfully achieve this, you must understand and
respect the delicate balance between protecting the state and
citizens,” he said.

Also speaking at the occasion, the new Chairman of FOSSRA and
Director Defence Information, Colonel Onyema Nwachukwu urged
information managers and journalists to work harmoniously towards
promoting national interest and protecting national security

Colonel Nwachukwu said: “We have to sustain our relationship
with the media as the right channels to the public so that our
information is not distorted for the advantage of our enemies and
criminal elements.”

Speaking early at the meeting the Executive Secretary of Centre
of Crisis Communication, the Secretariat of FOSSRA explained that
the rationale behind the formation of the forum was borne out of
the need to enhance cooperation and effective communication among
the security agencies.

Anas said: “We use the monthly meeting to improve on the
existing inter-agency collaboration among security agencies towards
efficiency in operations and better information management.”

Members of FOSSRA included spokespersons of the Defence
Headquarters, Nigerian Army, Nigerian Navy, Nigerian Air Force,
Nigeria Police Force, Department of State Service (DSS), National
Intelligence Agency (NIA) Nigerian Prisons Service and Nigeria
Security and Civil Defence Corps (NSCDC), the Economic and
Financial Crimes Commission(EFCC) and National Drug Law Enforcement
Agency (NDLEA).

Other members include the Nigeria Customs Service (NCS) Nigeria
Immigration Service (NIS), Independent Corrupt Practices Commission
(ICPC), Federal Road Safety Corps (FRSC), National Emergency
Management Agency (NEMA) and Nigerian Maritime Administration and
Safety Agency (NIMASA) and Federal Fire Service.

By PRNigeria