FG saved N3.9trn from port concession — Haastrup


By Godwin Oritse 

The Chairman, Seaports Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, said the Federal Government’s port concession programme has saved the country about US$8.5 billion (N3.91 trillion) which was hitherto paid to foreign shipping lines as congestion surcharge. 

The STOAN chairman also said that members of the association, who are the concessionaires, are ready to inject more funds into the port once pending concession agreements are renewed. Haastrup said these while addressing journalists after a courtesy visit to her by the new Country Managing Director of APM Terminals Nigeria, Frederik Klinke. 

She said in addition to the huge savings to the economy, terminal operators have also made significant investments running into billions of dollars at the six major seaports across the country.

“Nigeria’s port concession programme has been a monumental success. Many African countries send representatives here to…

Source: Vanguard Newspaper