There was mild drama in the House of Representatives on Monday as the Minister of Blue and Marine Economy, Gboyega Oyetola, claimed that a multi-billion-dollar cargo tracking agreement entered into by the federal government regarding the International Cargo Tracking Notes, ICTN was faulty.
The minister made this claim while facing questioning by a House investigative panel looking into the delay in implementing the cargo tracking project, which experts say is costing the country $500 million monthly.
The hearing, organised by the House of Representatives Committee on Shipping Exercises, Customs, Port and Harbour, and Maritime Safety, Education, and Administration, is probing the non-implementation of the contract.
Mr Oyetola, who was represented by Babatunde Sule, a director in the Ministry of Blue and Marine Economy, justified the delay, stating that the process approved by the Federal Executive Council, FEC, was flawed.
In March 2023, the administration of former President Muhammadu Buhari engaged a consortium led by Antaser Nigeria Limited to implement a cargo tracking system for all imports and exports, including crude oil exports
