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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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Ekpenyong, Akpabio bicker over outcome of senatorial rerun poll

February 4, 2020 Leave a comment 39 Views

Representative of Akwa-Ibom North West Senatorial District, Christopher Ekpenyong and Minister of Niger Delta Affairs, Godswill Akpabio, have continued to bicker over the outcome of the just-concluded rerun election. Ekpenyong, who spoke to State House Correspondents after his victory at ...

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Delta leaders task governors on insecurity in region

February 4, 2020 Leave a comment 37 Views

Leaders of ethnic nationalities in Delta North Senatorial District of Delta State have urged governours of the South-South geopolitical zone to unite and form a security outfit to compliment the Police and other security agencies to tackle insecurity and protect ...

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Niger Delta groups write President Buhari, demand sack of NDDC’s interim management

February 4, 2020 Leave a comment 11 Views

A coalition of no fewer than 16 Niger Delta groups have written a protest letter to President Muhammadu Buhari over the Interim Management Committee (IMC’s) continued to stay in office at the Niger Delta Development Commission (NDDC). In a statement ...

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PANDEF seeks security arrangement for S’South, alleges existential threat

February 4, 2020 Leave a comment 34 Views

The Pan-Niger Delta Forum (PANDEF) at the weekend urged governours of the South-South to set up a regional security outfit such as Amotekun that has been successfully initiated by their South West counterparts to address insecurity in the region. At an ...

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A’Ibom new 18,000 seater Eket Stadium ready by May, says commissioner

February 4, 2020 Leave a comment 59 Views

The Akwa Ibom State Government has assured the people of Eket that the ongoing 18,000-seater ultra modern stadium complex located in their domain will be completed by May 27 this year. Commissioner for Youth and Sports, Monday Uko, disclosed that ...

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HURIWA advocates specialised institution to probe illegal use of firearms

February 4, 2020 Leave a comment 27 Views

The Human Rights Writers Association of Nigeria (HURIWA) has advocated a specialised institution to investigate illegal use of firearms, saying the Police Service Commission (PSC) vested with the responsibility has failed in carrying out that function. To this end, it ...

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Senate considers complete overhaul of NNPC’s transactions to block leakages

February 4, 2020 Leave a comment 36 Views

The Senate has said all Nigerian National Petroleum Corporation (NNPC) transactions should be completely overhauled to enhance transparency and accountability and ultimately block all leakages in the system. It explained that the development stemmed from mounting concerns over increasing leakages ...

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Why poor electricity supply may linger, by TCN, admits mistakes were made in power sector privatisation

February 4, 2020 Leave a comment 37 Views

The Transmission Company of Nigeria (TCN) has advanced reasons why Nigeria may continue to suffer power outages, urging the Federal Government to rescue the power sector and remedy the epileptic electricity supply in the country. Managing Director of TCN, Usman ...

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Edo govt writes IG, DSS, seeks Oshiomhole’s arrest as elders urge President Buhari to end rift

February 4, 2020 Leave a comment 25 Views

The Edo State government has petitioned the Inspector General of Police (IGP) and Director-General of the Department of State Services (DSS) demanding immediate arrest of National Chairman of the All Progressives Congress (APC), Adams Oshiomhole. In the petition, sent at ...

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No violence in Edo PDP over ward congresses, says Makinde as APC leaders suspend Idahosa

February 4, 2020 Leave a comment 30 Views

Oyo State Governor and Chairman of Peoples Democratic Party Congresses in Edo State, Seyi Makinde has dismissed purported violence that characterised Saturday’s ward congresses of the party. Governor Makinde who commended the party faithful for peaceful and orderly conduct of ...

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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
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