Port concession increased efficiency, saved Nigeria over $1.6bn —Terminal Operators


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By Godwin Oritse

CHAIRMAN of the Seaport Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, has said that the efficiency and other benefits brought about by Nigeria’s port concession exercise saved the economy over $1.6 billion in the last 16 years, which translates to a minimum of $100 million annually. 

Recall that Federal Government embarked on a port reform programme in 2006, which led to the concession of cargo handling operations at the port to reputable private terminal operators. 

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Speaking at the 34th-anniversary celebration of the Maritime Reporters Association of Nigeria (MARAN) in Lagos, with the theme: “16 Years of Port Concession: The Pains and the Gains,” Haastrup said the exercise has been a huge success and brought tremendous improvements to the nation’s port system.

“Nigeria’s port concession programme has been a huge success as stated in this…

Source: Vanguard Newspaper