August 21, 2018

Senate to rescind concession agreement with defaulters 

Senate to rescind concession agreement with defaulters 

The Senate Committee on Marine Transport on Friday warned that it would revoke the port concession agreement with any terminal operator that failed to fulfill the agreement. The Chairman of the Committee, Sen. Ahmed Yerima, gave the warning after a five-day oversight supervision by members of the committee at Western and Eastern ports.

Yerima said that some of the concessionaires had refused to perform their obligations, adding that the concession agreement should be reviewed every two years.

He urged the terminal operators to fulfil their financial obligations as highlighted in Memorandum of Understanding (Mou) with the Federal Government in order to reap the dividends of port concession.“Since 2006, when the Federal Government approved the ports for concession, there has been no review of the agreement. “We have the power to call for the cancellation of agreement with any concessionaire, who is not performing. Read more

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