The Senate Committee on Commercialisation and Privatisation said concessioned ports have started yielding higher revenue for the country.
This is contained in a statement by Head, Public Communications, Bureau of Public Enterprises (BPE), Mr Chigbo Anichebe in Abuja on Sunday.
The statement said the Chairman of the Committee, Sen. Olugbenga Obadara, made this known during an oversight visit to Tin-Can Island Port, Lagos.
In it, Obadara said the purpose of the concession had been achieved as services at the ports had significantly improved and were also contributing immensely to the revenue base of the Federal Government.
“The concession fees paid by the concessionaires contribute to the nation’s annual budget as against the pre-concession period when the Federal Government allocated huge sums of money to maintain the ports.
“The Federal Government through BPE concessioned the ports to ensure development and efficiency which in turn would yield high revenue for government as it is applicable in other countries with ports’’, he said.
Managing Director of Nigeria Port Authority (NPA), Alhaji Habib Abubakar said the authority was collaborating with the ports’ concessionaires to ensure that the ports were fully developed.
He said that a well developed port would bring about efficiency as well as guarantee high tonnage in import and export services which would lead to increased revenue for the federal government.
Abubakar added that the NPA was in the process of drawing up a 25-year development plan for the ports.
Earlier, Mr. Fulwood Bizzaro, a Port Facility Manager, said despite several challenges, the concessionaire had ensured strict adherence to the covenants it signed with the BPE and (NPA).NAN