Government concessions Warri Port to aid development

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The Federal Government has concessioned the Terminal ‘ B’ Warri Old Port , in Delta State, to Ocean & Cargo Terminal Services Limited which aims to  ensure  efficiency, improve service delivery , and ensure modernised port development.

Similarly, this development is also expected to engender reduction in the cost of shipping and clearing of cargo which is one of  the plans of Federal Government’ s ease of business agenda .

The Bureau of Public Procurement ( BPE ) in conjunction with the Nigerian Ports Authority ( NPA) , signed the agreement with Ocean & Cargo, after it was  considered the preferred bidder with $ 100 . 7 million ( about N36 . 4 billion ).

 Director - General , BPE , Alex Okoh, during the signing in ceremony noted  that government expects compliance to the terms of the concession agreement from the concessionaire .

He also urged Ocean & Cargo to  tailor it'sbusiness objectives in a way that would assist in the realisation of the objectives of the Government’ s ports concession programme.
Okoh said the ports concession represents one of the achievement of the privatisation and commercialisation programme in Nigeria.

Recall that the ports concession programme under the management of the BPE began  in 2005 , and culminated into the concession of over 23 terminals to private operators . The operators took  ownership of the ports in 2006 , and since then made significant investments of  about N200 billion within 10 years .