FG to Review Port Concession Agreement

In its shopping for a balm to heal the ailing economy, the Federal Government is to review ports’ concession agreement entered into with private seaport terminal operators in 2006. The concession agreements designed to lift the operations of Nigerian ports, will lapse before the end of this year.

Management of the Nigerian Ports Authority (NPA) has concluded plans to forward a memo to the government on the need for the review.

The Minister of Transport, Chibuike Amaechi, lamented that the Federal Government was not getting adequate revenue from the maritime sector despite its huge potential. He said that the aim of the government is to increase the revenue generated in the sector.

In a meeting attended by the Managing Director of Nigerian Ports Authority (NPA), Habib Abdullahi; Executive Secretary, Nigerian Shippers Council (NSC), Hassan Bello; representative of key stakeholders in the sector, among others, the minister pledged to abide by all agreements entered into by the government in the discharge of its responsibilities.

The minister, who spoke on sundry issues, advised parties to any dispute to forward their position papers and relevant documents to his office for appropriate resolutions.