A Bill for an Act to establish Nigerian Maritime Security Trust Fund and other matters related thereto (2020), has passed second reading on the floor of the House of Representatives.
Leading the debate, the sponsor of the Bill, Mr Yusuf Gagdi, said the Bill will provide for the establishment of a special fund for training and retraining of naval personnel for optimum productivity.
Mr Gadgi added that it will also provide funding for equipment and machineries that will aid the seamless protection of the nation’s waterways by the Nigerian Navy, thereby guaranteeing a robust economic development of the country.
The Lawmaker, who Chairs the House Committee on Navy, maintained that since oil, the mainstay of Nigerian economy is majorly sourced and moved through the waterways, while the largest chunk of import and export of other goods are carried out through the seas, it was imperative that the Nigerian Navy is sufficiently equipped and routinely trained to curb the excesses of pirates, oil bunkerers and other illegal activities.
The bill was referred to the relevant Committee of the house for further legislative inputs.