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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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Akwa Ibom ready to provide infrastructure for Court of Appeal, says commissioner

February 7, 2020 Leave a comment 32 Views

Akwa Ibom State Attorney General and Commissioner for Justice, Uwemedimo Nwoko, has declared that the state is ready to provide the needed infrastructure for the takeoff of the Uyo division of the Court of Appeal. He made the assertion as ...

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Cross River assembly rejects Ayade’s N15b loan request, additional SAs, others

February 7, 2020 Leave a comment 10 Views

The Cross River State House of Assembly has rejected a N15 billion loan request by the state government, a development that is causing friction between the executive and legislature. A letter dated January 14, 2020 and signed by Secretary to ...

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Sultan of Sokoto, Dogara, others blame FG for lingering terrorism

February 7, 2020 Leave a comment 19 Views

Sultan of Sokoto, Alhaji Sa’ad Muhammadu Abubakar, former Speaker, House of Representatives, Yakubu Dogara, Usman Bugaje and other Northern leaders have blamed the lingering security challenges on government’s failure to act decisively. They stated this, while reviewing the security challenges ...

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President Buhari pledges continued support for military to tackle insecurity

February 7, 2020 Leave a comment 15 Views

President Muhammadu Buhari has reassured the Armed Forces that his administration will continue to fund and equip the military to effectively tackle challenges of insecurity in the country. Buhari stated this at the unveiling of two Agusta 109 Power and ...

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Agabi leads 30 lawyers to challenge Ihedioha’s sack as APC calls PDP alarmist over alleged razing Imo INEC’s office

February 7, 2020 Leave a comment 17 Views

Deposed Governor Emeka Ihedioha of Imo State has formally filed an application at the Supreme Court seeking a singular relief to reinstate him as governor. Briefing journalists in Abuja, former Commissioner of Justice in Ihedioha’s administration, Ndukwe Nnawuchi (SAN), said ...

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There is no proof of my reveiving money from SURE-P director, says EFCC witness

February 7, 2020 Leave a comment 37 Views

Nasiru Ingawa, a star witness of the Economic and Financial Crimes Commission (EFCC) in the alleged misappropriation of N5.7b Subsidy Reinvestment and Empowerment Programme (SURE-P) funds by former Katsina State Governor, Ibrahim Shema, says he cannot prove that he collected ...

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President Buhari to commission three new factories in Cross River

February 7, 2020 Leave a comment 17 Views

President Muhammadu Buhari will later this month visit Cross River State to commission three new industries built by the state government. The factories are the Cross River noodles factory, the fertiliser factory and the chicken processing plant. Buhari will be ...

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BPP has approved forensic audit of NDDC, says Akpabio as IYC cautions against change of PAP leadership

February 7, 2020 Leave a comment 16 Views

Minister of Niger Delta Affairs (MNDA), Godswill Akpabio, has claimed that the ministry had secured approval from the Bureau of Public Procurement (BPP) to commence forensic audit on the activities the Niger Delta Development Commission (NDDC) as directed by President ...

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NAF launches Operation Rattle Snake III, destroys ISWAP hideout in Borno State

February 7, 2020 Leave a comment 17 Views

The Nigerian Air Force (NAF), through its Air Task Force (ATF) of Operation Lafiya Dole, has launched ‘Operation Rattle Snake III‘ against terrorists in the North East. According to a statement signed by NAF Director of Public Relations and Information, ...

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Minister of Water Resources seeks group’s support against open defecation

February 7, 2020 Leave a comment 29 Views

Minister of Water Resources, Suleiman Adamu, has solicited the support of the American Society of Civil Engineers, Nigeria chapter, to achieve an Open Defecation-Free society by 2025. Adamu, who said this yesterday in Abuja when the society’s president, Ajose Otinwa, ...

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

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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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