Lawmakers Assure Port Operators on Swift Renewal of Concession Agreements.
The House of Representatives Committee on Privatisation and Commercialisation has assured port operators that it will collaborate with the Minister of Marine and Blue Economy, Adegboyega Oyetola, to expedite the renewal of port concession agreements.
This commitment was made during the committee’s recent oversight visit to the terminal of Ports & Cargo Handling Services Limited, a subsidiary of SIFAX Group, at Tin Can Island Port in Lagos.
Chairman of the committee, Hamisu Ibrahim Chidari, stated that the House of Representatives has tasked the committee with ensuring that all federal government-concessioned assets are performing at their best. He noted that the committee is working closely with various government agencies and ministries to ensure that these assets deliver optimal returns to both the government and investors.
Addressing the concerns over the delays in the renewal of port concession agreements, Chidari emphasized the committee’s strong working relationship with the Minister of Marine and Blue Economy. He expressed confidence that the renewal process would be resolved swiftly, underscoring the current administration’s commitment to creating a business-friendly environment that supports economic growth.
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During the visit, John Jenkins, Managing Director of Ports & Cargo Handling Services Limited, welcomed the delegation and outlined the company’s significant contributions to the Nigerian economy. He highlighted the company’s achievements in providing excellent services, creating employment opportunities, and supporting various corporate social responsibility initiatives.
Jenkins also stressed the importance of renewing the terminal’s concession agreement, noting that it would enable the company to execute its development plans, which are aimed at transforming the terminal into one of the best in the world.
The assurance from the lawmakers is expected to ease the concerns of port operators and stakeholders who have been anxious about the delay in renewing these crucial agreements, which are vital for the continued growth and development of Nigeria’s port sector.
