Port Concession Renewal: House Privatisation Committee to Collaborate with Marine Minister

The House of Representatives Committee on Privatisation and Commercialisation has assured port stakeholders of the readiness of the committee to collaborate with the Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, to resolve the port concession renewal.

This assurance was given during the committee’s oversight visit to the terminal of Ports & Cargo Handling Services Limited, a subsidiary of SIFAX Group, at the Tin Can Island Port, Lagos.

According to Engineer Hamisu Ibrahim Chidari, the committee’s chairman, the House of Representatives has given the committee a mandate to ensure that all the federal government’s concessioned assets are performing at an optimal level.

He said: “This oversight visit is a key part of our committee’s statutory responsibility. We work with diverse government agencies and ministries to ensure that the assets of the government that have been concessioned are performing and delivering premium returns to the government as well as the investors. Our job also involves working to remove any obstacle that might be impeding the smooth running of the private investors in these assets.”

On the concession renewal, Chidari noted that the committee would be leveraging its excellent working relationship with the Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, to resolve the contract renewal in the shortest possible time.

“We understand what this contract renewal means to your business and I assure you that the government will not allow this to linger for too long. This current administration is desirous of providing the needed enabling environment for businesses to thrive to grow the country’s economy. We will work with the Minister of Marine and Blue Economy to address any issue on the concession renewal,” he said.

Earlier, while welcoming the delegation to the terminal, John Jenkins, Managing Director, Ports & Cargo Handling Services Limited, appreciated the committee members for their visit, adding that the terminal operator and its parent company, SIFAX Group, have over the years contributed substantially to the growth of the economy through excellent service at the terminal and other allied businesses, employment opportunities for thousands of Nigerians as well as countless corporate social support projects that have touched the lives of thousands of less privileged Nigerians across the country.

He said the renewal of the terminal’s concession agreement would allow the company to implement its development plan that would make the terminal one of the best port terminals globally.

The committee members were accompanied on the visit by officials of the Nigerian Port Authority (NPA) and the Bureau of Public Enterprises (BPE).