Tinubu will Seek National Assembly Approval for Naira Charges by NPA, NIMASA – Presidency

The federal government of Nigeria is set to propose a significant policy change that will allow the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA) to collect charges, fines, and other fees in naira instead of foreign currencies.

Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, announced the initiative during a press briefing at the State House in Abuja on Wednesday. This proposal is part of a broader economic stabilization strategy that President Tinubu plans to present to the National Assembly.

Earlier this week, the Federal Executive Council (FEC) approved economic stabilization bills aimed at amending tax policies to enhance the nation’s economic framework. Onanuga emphasized that this new policy seeks to prioritize the use of the naira and alleviate pressure on the foreign exchange market.

“The second initiative pertains to the operating laws governing NIMASA and the NPA. The amendment included in the economic stabilization bills stipulates that all fees, charges, levies, fines, and other payments to these agencies will now be made in naira at the applicable exchange rate,” Onanuga stated.

He noted that previously, these agencies had been charging in dollars, but the new policy aims to reinforce the use of Nigeria’s national currency, moving away from a dollar-dominated economic landscape.