FG Proposes NIMASA, NPA to Collect Fees in Naira Instead of Dollars
The Federal Government has proposed a shift in the collection of charges by two key maritime agencies, the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA), from foreign currencies to Naira. This suggestion was made as part of a broader economic stabilization effort under a bill expected to be presented to the National Assembly by President Bola Ahmed Tinubu.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, revealed the proposal during a briefing at the State House in Abuja. He stated that the reform aims to bolster the use of the Naira in place of the current practice of dollarized transactions within these agencies.
Onanuga explained, “The amendment under the economic stabilization bills is that all fees, charges, levies, fines, and other payments due to NIMASA and the NPA will now be made in Naira at the applicable exchange rate.”
Previously, both NIMASA and the NPA collected payments in US Dollars, but the government is now pushing to prioritize the national currency in an effort to reinforce its value and reduce the over-reliance on foreign currencies in Nigeria’s economy.
This move comes amid broader government efforts to stabilize the economy and promote the use of local currency across various sectors, a key element in its economic reforms.
The proposal is part of a series of amendments that will be submitted for legislative approval to facilitate these changes in financial regulations.
