The House of Representatives’ Committee on Privatisation and Commercialisation has invited the Minister of Transportation, Rotimi Amaechi, to appear before it on Tuesday (today) to explain the delay in the approval of the expired leases/concessions by the Nigerian Ports Authority.
The committee, which is chaired by Ibrahim Makama, alleged that the delay might cause the Federal Government to lose investments worth up to $400 million.
The Federal Ministry of Transportation, in a letter dated March 3, 2022, informed the committee that an inter-ministerial committee set up by the Minister, Rotimi Amaechi, had completed its assignment and submitted its report.
Meanwhile, the Nigerian Ports Authority said five of the leases expired in April, May, and November 2021, and prior to the expirations and in line with the provisions of the terms of the agreement Article (2.2), parties indicated their interest and it had completed the processes and forwarded same to the minister for approval on June 10, 2020.
The Minister had approved the request for renewal on December 17, 2020 but directed that the renewal process should be driven by an inter-ministerial committee, which has equally concluded its assignment and submitted its report to Amaechi but the supplemental agreements for the renewal had yet to be executed.
The concerned terminal operators and their investments are ENL Consortium (Apapa Port, Terminal C & D), $143 million; Port & Cargo Handling Services (Tin Can Terminal C), $120 million; Josephdam Port Services (Tin Can Terminal A) $100 million; and Associated Maritime Services (Warri New Port), $2.4 million.
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