Nigerian govt privatises Warri terminal port

A port used to illustrate the story
Aerial view of the Old Warri port

The Bureau for Public Enterprises (BPE) has signed an agreement to hand over Terminal “B” of the Old Warri Port to a private firm.

It said the action followed an approval by the National Council on Privatisation (NCP).

In a statement signed by the BPE Director General, Alex Oko, on Tuesday, it said the agency approved the technical and financial bid of $100.8 billion submitted by Ocean and Cargo Terminal Services Limited.

Mr Okoh said the objective of the Federal Government is to relieve the government of financing the sector.

He said the company emerged the preferred bidder for the concession after ”it met all required qualifications which include the prequalified Insurance of Request (RFP) and the Information Memorandum”.

”The NCP at its meeting held at its meeting held on 12 June 2018, approved the technical bid and the Finacial bid of $100,782,147.53 submitted by Ocean and Cargo Terminals Services Limited which emerged as the preferred bidder for the Terminal B Warri Old Port,” the statement said.

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He said before the concession, the agency received 13 Expression of Interest (EOI), following an advertisement published in various media publications in 2014.

”Following the approval by the NCP, advertisments iniviting Expressions of Interest (EOI) from prospective concessionaires for the concession of the Terminal were placed in selected national dailies on 23 of June, 2014,” he said.

The official said the objective of the federal government is to increase the Nigerian port efficiency, service delivery, reduction of cost of shipping and clearing of goods at the port across the country.

He urged the concessionaire to focus on the objectives as it performs the business, adding that as the federal government expects adherence to the terms of the concession agreements.

”The objective of the Federal Government in port concession is to increase efficiency in our ports, improve service delivery, modernise port development, reduce the cost of shipping and clearing of goods at the port and relieve the government of financing the sector.

”The government expects nothing less than strict adherence to the terms of the concession agreement from the concessionaire.”

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