The Bureau of Public Enterprises (BPE), has tasked Ocean and Cargo Terminal Services Ltd, the Concessionaire of Terminal ‘B’ Warri Old Port, to adhere strictly to terms of the concession agreement.
The Director-General, BPE, Mr Alex Okoh said this at the signing of the concession agreement of the Port between the Federal Government and the concessionaire on Tuesday in Abuja.
He urged 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 on Port concession.
According to him, government expects nothing less than strict adherence to the terms of the concession agreement.
He added that pursuit of the company’s 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.
He said that the Federal Government upgraded the facilities at the terminal which included the construction of a new quay wall and apron equipped with requisite facilities for berthing vessels.
This he said has made it one of the most modern port terminals in the country at the time.
“Upon completion of the rehabilitation and reconstruction works, there was need to concession the terminal to a private operator.
“The operator 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 said that following approval by the National Council on Privatisation (NCP) , advertisements inviting Expressions of Interest (EOIs) from prospective concessionaires for the terminal were carried out by the BPE.
Okoh recalled that the NCP, after assessing various bids on June 12, 2018, approved the technical and financial bids of 100.78 million dollars submitted by Ocean and Cargo Terminal Services Ltd which emerged as the preferred bidder for the terminal.
He said that 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.
According to him, this represents one of the success stories of the privatisation and commercialisation programmes in Nigeria and a credible testimony of the viability of the Private Public Partnership (PPP) model in the development and delivery of critical public infrastructure in Nigeria.
Ms Hadiza Bala-Usman, the Managing Director, Nigerian Ports Authority (NPA) expressed delight at the conclusion of the concession of the terminal, adding that it was an important milestone in the economic development of the country.
She pledged support for the concessionaire and commended the teams from BPE and NPA for working assiduously toward the completion of the project.
Mr Adekunle-Abdulrasak Oyinloye, the Managing Director, Ocean and Cargo Terminal Services, thanked the BPE and NPA for their transparency and diligence in executing the project and promised to work for the success of the port.
