The Senate Committee on Commercialization and Privatisation has said that the concession of the ports has begun to yield the desired dividends, with higher revenue for the country.
The committee made this observation in a statement by the Head, Public Communications, Bureau of Public Enterprises (BPE), Mr ChigboAnichebe in Abuja.
The statement quoted the Chairman of the Committee, Senator OlugbengaObadara, as having said this during an oversight visit to Tin-Can Island Port, Lagos.
Obadara reportedly said that the purpose of the concession had been achieved as services at the ports have significantly improved and were also contributing immensely to the revenue base of the federal government.
“The concession fees paid by the concessionaires contribute to the nation’s annual budget as against the pre-concession period when the federal government allocated huge sums of money to maintain the ports. The federal government through BPE concessioned the ports to ensure development and efficiency which in turn would yield high revenue for government as it is applicable in other countries with ports,” he said.
Earlier, Mr.FulwoodBizzaro, a Port Facility Manager of one of the terminals, said despite several challenges, the concessionaire had ensured strict adherence to the covenants it signed with the BPE and (NPA).
Bizzaro, the Port Facility Manager of Five Star Logistics Limited, one of the concessionaires at Tin-Can Island Port, said his company had developed 16-17 square metres of land for container and cargo stacking to handle the increased vehicle importation in the country.
