The Nigerian Shippers Council has appealed to CBN to intervene in infrastructure development of the nation’s maritime sector to enable the country to realise its economic diversification potential. Nigeria NSC CBN MaritimeSector
Executive Secretary of NCS, Hassan Bello, explained that the maritime sector, which contributes between N1.9tr and N2tr yearly to the Federation Account, could generate N7tr annually, but was being constrained by infrastructure deficit making the nation’s ports unable to compete with those of neighbouring countries.
He pointed out that the development was responsible for the high cost of freight of Nigerian cargoes and the huge burden on consumers because ships bringing cargoes to Nigeria ports return empty without cargoes from Nigeria, which, he said was an abnormal situation. Bello pointed out that Nigeria has several quality non-oil products that could be processed and exported, thereby creating employment opportunities for Nigerians and higher revenues for the government.
Meanwhile, Minister of Finance, Budget and National Planning, Zainab Ahmed, has inaugurated an inter-ministerial task force to fully implement Government Integrated Financial Management Information System .
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