Transportation: “Lack Of Regulation Hinders Economic Growth” – CILT President

3days International Conference and ExhibitionThe President of the Chartered Institute of Logistics and Transport (CILT) Major-General Umar Usman has said thata proper and well documented regulatory laws governing the Transport sector is required for improved economic growth.

He stated this at the National conference and Annual General Meeting tagged: Commercial Regulation in the Transport Sector and the National Economy held in Lagos, recently.

He said that CILT Nigeria is committed to the development of the transport Industry in Nigeria through capacity building, education and research which will ultimately enrich the industry in contributing to knowledge.

According to him, if the transport sector remains unregulated it will have adverse effect on the growth of the economy, so he urged those in authority and management of Logistics and Transport sector of the National economy to synergise towards establishing a more sensitized Transportation system in Nigeria.

Also speaking at the event is the Guest Speaker, Hassan Bello, the Executive Secretary and Chief Executive Officer of Nigerian Shipper’s Council ably represented by Mrs Dabney Shalhomer who reiterated the importance of a regulated transport sector to the economy and the positive outlook it will give the country.

According to her, regulation of the transport sector will promote efficiency and quality of service, create a conducive atmosphere for the industry to grow, guarantee stability and build confidence, curb exploitative tendencies and arbitrariness which have permeated the industry in order to stimulate growth.

Citing examples, she said countries like the United States and some parts of Europe have laid down regulatory laws guiding their transport sector and that have impacted positively on the growth of their economies.

However, she frowned at the trend in the port where demurrage-free day starts counting on the arrival of the vessel and not when cargoes have been discharged from the vessels as obtained in most parts of the world and added that a regulated transport system would have stopped that.

Speaking further, she highlighted the benefits of reform in such sectors like communication, broadcasting, financing, insurance, inland waterways etc and suggested that the transport sector too be reformed through regulation so that Nigerians will feel it’s positive impact on the economy fully.

Dr. Via Shema, the representative of the Transport Minister that the Transformative agenda of Dr Goodluck Jonathan places significant emphasis on the transport sector, so there is need to steer the sector in line with the vision.

According to him a viable Transport sector is one that promotes infrastructural development, reduces the high cost of doing business in the country and provides a level playing ground for stakeholders. He therefore advised the relevant authorities to pull their resources together so as to make the sector integral to the growth of the economy.

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