The federal government has revealed that it has proposed a $1 billion investment for the rehabilitation of the nation's ports. It said the dream to achieve a modernised port is paramount and sacrosanct, adding that the concession agreement to be entered into with any investor or operator must align with this vision.
The federal government has revealed that it has proposed a $1 billion investment for the rehabilitation of the nation's ports. It said the dream to achieve a modernised port is paramount and sacrosanct, adding that the concession agreement to be entered into with any investor or operator must align with this vision. The Minister of Marine and Blue Economy, Gboyega Oyetola, disclosed this on Thursday when he appeared before the House of Representatives Committee on Privatisation.
He noted that the reform resulted in the delineation of the six port complexes in Lagos, Port Harcourt, Calabar, Onne and Warri into 26 terminals and transfer of cargo operations, which was hitherto performed by the Nigerian Ports Authority to the Terminal Operators that emerged through competitive bidding process.