Senior Advocate of Nigeria (SAN) and former president of the Nigerian Bar Association, Mr. Olisa Agbakoba has threatened a renewed legal war against terminal operators under the aegis of Seaport Terminal Operators Association of Nigeria (STOAN) and multinational shipping companies under aegis of the Association of Shipping Line Agencies (ASLA) over their refusal to return the over N1trillion they have alleged collected illegally from imporers.
Agbakoba, who is also the pioneer President of Nigerian Chamber of Shipping, during a press conference in Lagos on yesterday lamented that the activities of terminal operators and shipping companies in increasing port charges has only succeeded in driving away genuine investors and crippling the Nigerian economy.It would be recalled that the Federal High Court in Lagos recently upheld the Nigerian Shippers’ Council as the Economic Regulator of the port system and subsequently directed the terminal operators and shipping companies to cut down their charges and return all monies that were hitherto collected illegally.
Speaking on his stance, Agbakoba said that had the N1trillion been made available to Nigerian companies, they could have used it to transform the maritime sector.
He called on the Federal Government to beam it's searchlight on the maritime sector, with intents of generating revenue, curbing exorbitant port charges and bringing back investors that have left the port.
According to him, the maritime sector has massive, untapped revenue to the tune of N7trillion per annum.
"We went to court recently and there were two very important cases, the terminal operators and shipping companies hiked their prices and introduced one non-sense charge (Shipping Line Agency Charge) making billions, the court declared it was illegal"
"The next case we are pursuing is that we are going to go after these people to refund at least the N1trillion they have taken illegally"
"That N1trillion, had Nigerian companies had it, it would give them capital to do other things, and this is why we have the strong policy from the Shippers Council on over-pricing the port"
"The Shippers Council is saying that if you overpriced our ports, nobody is going to use the ports" he said.
Agbakoba pointed out that Nigeria requires an economic regulator for shipping sector, and that until recently, there is no clearly recognized economic regulator for the shipping sector.
"The Federal High Court has held that the Nigerian Shippers’ Council is an economic regulator, it is only when the Nigerian Shippers’ Council is empowered to regulate that stakeholders in the sector can turn around their businesses and generate huge revenue for the nation" he argued.http://shippingposition.com.ng/article/pandemonium-lastma-officials-chase-truck-driver-ptml-mile-2-facilities-wreck-havoc
Agbakoba, who is also the pioneer President of Nigerian Chamber of Shipping, during a press conference in Lagos on yesterday lamented that the activities of terminal operators and shipping companies in increasing port charges has only succeeded in driving away genuine investors and crippling the Nigerian economy.It would be recalled that the Federal High Court in Lagos recently upheld the Nigerian Shippers’ Council as the Economic Regulator of the port system and subsequently directed the terminal operators and shipping companies to cut down their charges and return all monies that were hitherto collected illegally.
Speaking on his stance, Agbakoba said that had the N1trillion been made available to Nigerian companies, they could have used it to transform the maritime sector.
He called on the Federal Government to beam it's searchlight on the maritime sector, with intents of generating revenue, curbing exorbitant port charges and bringing back investors that have left the port.
According to him, the maritime sector has massive, untapped revenue to the tune of N7trillion per annum.
"We went to court recently and there were two very important cases, the terminal operators and shipping companies hiked their prices and introduced one non-sense charge (Shipping Line Agency Charge) making billions, the court declared it was illegal"
"The next case we are pursuing is that we are going to go after these people to refund at least the N1trillion they have taken illegally"
"That N1trillion, had Nigerian companies had it, it would give them capital to do other things, and this is why we have the strong policy from the Shippers Council on over-pricing the port"
"The Shippers Council is saying that if you overpriced our ports, nobody is going to use the ports" he said.
Agbakoba pointed out that Nigeria requires an economic regulator for shipping sector, and that until recently, there is no clearly recognized economic regulator for the shipping sector.
"The Federal High Court has held that the Nigerian Shippers’ Council is an economic regulator, it is only when the Nigerian Shippers’ Council is empowered to regulate that stakeholders in the sector can turn around their businesses and generate huge revenue for the nation" he argued.http://shippingposition.com.ng/article/pandemonium-lastma-officials-chase-truck-driver-ptml-mile-2-facilities-wreck-havoc
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