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    Investor Confidence key to Port Concession Agreements,Says NPA By our Correspondent The Nigerian Ports Authority (NPA) has defended its decision to delay renewing port concession agreements, citing the need for a thorough review to strengthen investor confidence and avoid future disputes. NPA Managing Director, Dr. Abubakar Dantsoho, stated that the government is focused on correcting structural issues in existing agreements before approving renewals. Dantsoho acknowledged concerns from terminal operators over uncertainty but emphasized that a flawed agreement would do more harm than a delayed one. “The end justifies the means. It is better to get it right than to rush into agreements that will be challenged later,” he said. He noted that both NPA and concessionaires had raised concerns over unmet obligations, which must be resolved before any extension. The NPA is prioritizing clarity and legal certainty in the agreements, as investors are more interested in a stable and secure environment than speedy approvals. “No investor will put money where the legal framework is weak. What matters is the quality of the agreement, not how fast it is signed,” Dantsoho added. The review process may lead to new investors taking over if existing operators choose not to continue. Dantsoho also warned operators of inland container depots and bonded terminals to adapt to changing realities, stating that declining congestion may render their current business models obsolete. “They played their role during congestion. But business is dynamic. They must restrategise,” he said. The NPA’s stance aims to ensure sustainable growth and development in the maritime sector.

    NPA Warns ICD,Bonded Terminal Operators to Adapt or Risk Obsolescence

    NPA Committed to Enhancing Partnership with US, Says MD

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FG Moves To Prohibit Smoking, Money Rituals, Ritual Killings In Movies, Music Videos, Skits

May 23, 2024 Leave a comment 52 Views

FG Moves To Prohibit Smoking, Money Rituals, Ritual Killings In Movies, Music Videos, and Skits The National Film and Video Censors Board (NFVCB) announced on Tuesday, May 21, 2024, that it would henceforth restrict the depiction of smoking, ritual killings ...

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NIGERIAN Delegation Meets in Segbana, Benin Republic, to Fast-Track Reopening of Tsamiya Border in Kebbi

May 23, 2024 Leave a comment 40 Views

The Nigerian delegation meets in Segbana, Benin Republic, to Fast-Track Reopening of Tsamiya Border in Kebbi … As CGC Adeniyi Strengthens Ties with Benin Customs to Enhance Trade Facilitation In a bid to enhance regional integration and boost economic activities, ...

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Powerful Pen Media Chapel Congratulates NUJ Chairman Adeleye Ajayi on his appointment as head of NAN Lagos office

May 20, 2024 Leave a comment 171 Views

Powerful Pen Media Chapel Congratulates NUJ Chairman Adeleye Ajayi on his appointment as head of NAN Lagos office She Says the appointment is well-deserved The Powerful Pen Media Chapel of the Nigeria Union of Journalists, NUJ, has congratulated Mr Adeleye ...

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Impactful Communications: CGC Adeniyi Bags Certificate of Excellence at SABRE Awards Africa 2024

May 20, 2024 Leave a comment 33 Views

Impactful Communications: CGC Adeniyi Bags Certificate of Excellence at SABRE Awards Africa 2024 The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has received a certificate of excellence for his first 100 days of impactful public relations at the ...

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IMO WOMEN IN MARITIME DAY – NIMASA CELEBRATES NIGERIAN WOMEN STAKEHOLDERS.

May 20, 2024 Leave a comment 26 Views

IMO WOMEN IN MARITIME DAY – NIMASA CELEBRATES NIGERIAN WOMEN STAKEHOLDERS. The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola, during the 2024 commemoration of the International Day for Women in Maritime in Lagos, ...

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COWA President Kikelomo Distributes BP Monitors to over 200 Officers, Families

May 20, 2024 Leave a comment 77 Views

COWA President Kikelomo Distributes BP Monitors to over 200 Officers, Families The National President of the Customs Officers’ Wives Association (COWA) and wife of the Comptroller-General of Customs, Mrs. Kikelomo Adeniyi, has distributed over 200 upper arm blood pressure monitors ...

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Nigeria Customs Service Hosts 3-Day Workshop on Data Generation, Analytics

May 20, 2024 Leave a comment 52 Views

Nigeria Customs Service Hosts 3-Day Workshop on Data Generation, Analytics The Nigeria Customs Service (NCS) has inaugurated a three-day capacity-building workshop on data generation, analytics, and storage on Monday, 13 May 2024, at the Nigeria Customs Command and Staff College ...

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Lithium Mining: CAPPA Cautions Against Government Greenlight

May 17, 2024 Leave a comment 28 Views

Lithium Mining: CAPPA Cautions Against Government Greenlight The Corporate Accountability and Public Participation Africa (CAPPA) has cautioned the Nigerian government to approach its pursuit of industrial-scale lithium mining with a deep sense of environmental accountability and the protection of local ...

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Customs CG Decorates 13 Members of his Management Team

May 17, 2024 Leave a comment 44 Views

Customs CG Decorates 13 Members of his Management Team By prince Benson Davies The Comptroller-General of Customs, Adewale Adeniyi, on Wednesday, 15 May 2024, decorated thirteen (13) members of his management team with their new ranks at the Nigeria Customs ...

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NIGERIA CUSTOMS SERVICE BOARD CONFIRMS APPOINTMENT OF 5 DCGs, 8 ACGs

May 17, 2024 Leave a comment 38 Views

The CUSTOMS SERVICE Service Board confirms the appointment of 5 DCGs and 8 ACGs. 1. The Nigeria Customs Service Board (NCSB) has confirmed the appointment of five (5) Deputy Comptrollers-General (DCGs) and eight (8) Assistant Comptrollers-General (ACGs) of Customs during ...

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  • Investor Confidence key to Port Concession Agreements,Says NPA By our Correspondent The Nigerian Ports Authority (NPA) has defended its decision to delay renewing port concession agreements, citing the need for a thorough review to strengthen investor confidence and avoid future disputes. NPA Managing Director, Dr. Abubakar Dantsoho, stated that the government is focused on correcting structural issues in existing agreements before approving renewals. Dantsoho acknowledged concerns from terminal operators over uncertainty but emphasized that a flawed agreement would do more harm than a delayed one. “The end justifies the means. It is better to get it right than to rush into agreements that will be challenged later,” he said. He noted that both NPA and concessionaires had raised concerns over unmet obligations, which must be resolved before any extension. The NPA is prioritizing clarity and legal certainty in the agreements, as investors are more interested in a stable and secure environment than speedy approvals. “No investor will put money where the legal framework is weak. What matters is the quality of the agreement, not how fast it is signed,” Dantsoho added. The review process may lead to new investors taking over if existing operators choose not to continue. Dantsoho also warned operators of inland container depots and bonded terminals to adapt to changing realities, stating that declining congestion may render their current business models obsolete. “They played their role during congestion. But business is dynamic. They must restrategise,” he said. The NPA’s stance aims to ensure sustainable growth and development in the maritime sector.

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  • MURDER TRIAL: RIVERS STATE GOVERNMENT TO COMPEL IGP, RIVERS STATE POLICE COMMISSIONER TO PRODUCE OJUKAYE IN COURT

    March 28, 2019
  • House of Representatives gave Buhari maximum support, says Yakubu Dogara

    May 23, 2019
  • Minister tasks telecommunication firms on tariffs reduction as commission moves to document rights abuses

    April 3, 2020
  • Lagos Water Crisis: Residents Of Epe Community List Challenges, Demands

    November 1, 2022
  • FG to curtail excessive borrowing, tasks FIRS on revenue collection

    January 27, 2020
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