5 things you did not know about the National Transport Commission Bill8 months ago
By noon of February 2, 2022 the Nigerian Senate announced on Twitter that the National Transport Commission (Establishment) Bill, 2022 had been read for the third time and passed. But what really is this Bill about? It is an Act to establish the National Transport Commission as an independent, multi-modal economic regulatory authority and provide a legal framework for the regulation of transport services and related matters in the industry.
Here are five other things you probably did not know about the NTC Bill.
The NTC Bill dates back to 2008
The NTC Bill was first sponsored in the 7th National Assembly as far back as 2008, but could not be passed due to its complexities.
The Bill will redefine transportation in Nigeria
When assented to law, the National Transport Commission will provide economic and safety regulatory reforms in the transport sector for the ports, rail, inland waterway, and road sectors. This will have a profound impact on Nigeria’s transport System and subsequently, business environment.
It provides checks and balances in the transport system
The NTC Bill will establish the National Transport Commission as an effective, impartial, and independent economic regulatory authority for the transport sector and set out the objectives, functions, and powers of the Commission. It will provide a mechanism for monitoring the compliance of government agencies and transport service providers in the regulated transport sector.
It will boost economic growth
The Bill will engender healthy competition by providing a level playing field for operators, service providers and end users in the industry. It will also boost government revenue generation efforts through proper supervision of revenue generating activities of government agencies, proper moderation of costs and pricing.
It will intersect multiple transport agencies
The NTC will cut across the Federal Ministry of Transportation, Nigerian Railway Authority (NRA), Federal Road Safety Commission (FRSC), Federal Roads Maintenance Agency (FERMA), Nigerian Ports Authority (NPA), National Inland Waterways Authority (NIWA) and other agencies providing transport services of any nature in Nigeria’s regulated transport industry.