The Bureau of Public Enterprises (BPE) has concessioned the Warri old Port Terminal B to Ocean & Cargo Terminal Services Limited.
Speaking at the signing ceremony in Abuja Director-General of BPE, Mr. Alex Okoh, tasked the concessionaire to focus on increased efficiency, improved service delivery, modernised port development and reduction in the cost of shipping and clearing of goods in line with the Federal government’s objective in port concession.
The event was witnessed by critical stakeholders, including the Nigerian Ports Authority (NPA) in Abuja.
Okoh said: “Government expects nothing less than strict adherence to the terms of the concession agreement from the Concessionaire.”
He reminded Ocean & Cargo Terminal Services Limited that the pursuit of its business objectives must be tailored in a way that would assist in the realisation of objectives of the port concession programme of the Federal government.
According to the Director-General, the Federal government’s Ports Concession Programme under the management of the BPE commenced in 2005 and culminated in the concession of over 23 terminals to private operators.
He noted that it represents one of the success stories of the privatisation and commercialisation programme in Nigeria and credible testimony of the viability of the Private Public Partnership (PPP) model in the development and delivery of critical public infrastructure in Nigeria.
The DG recalled that the Federal government upgraded the facilities at Terminal B Warri Old Port, which included the construction of a new quay wall and apron equipped with requisite facilities for berthing vessels, making it one of the most modern port terminals in the country at the time.
“Upon completion of the rehabilitation and reconstruction works, there was a need to concession the terminal to a private operator who would be responsible for the operation of the terminal and carrying out further development of its facilities in line with the Ports Concession Programme,” he stated, adding that following the approval by the NCP, advertisements inviting Expressions of Interest (EOIs) from prospective concessionaires for the concession of the terminal were carried out by the bureau.