BY ADEBIYI ADEDAPO, Abuja
The House of Representatives on Wednesday passed for a second reading, a Bill for an Act seeking to establish the Nigerian Maritime Security Trust Fund.
While leading the debate on the Bill, chairman of the House Committee on Navy, Yusuf Adamu Gagdi, explained that the proposed law was to provide for the establishment of a special fund for training and retraining of naval personnel for optimum productivity, as well as funding for equipment and types of machinery that will aid the seamless protection of the nation’s waterways by the Nigerian Navy.
He observed that it was imperative for the Nigerian Navy to be sufficiently equipped and routinely trained to curb the excesses of pirates, oil bunkerers and other illegal activities on the seas and waterways that hamper economic development.
This, according to him, will guarantee a robust economic development for the country.
Gagdi noted that oil and gas sector remains the mainstay of Nigerian economy, and it is majorly sourced and moved through the waterways. He also said that the largest chunk of Nigeria’s import and export of other goods are carried out through the seas.
The Bill was first read on March 15, 2021 and seeks to exist for eight years from the commencement date of the Act, (when finally passed by the National Assembly and assented to by Mr President), unless it is further extended by an Act of the National Assembly.