National Economy
Thursday, November 20, 2025
No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Energy
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Analysis
    • Money Guide
    • Growth
    • Sport Economy
News
National Economy
No Result
View All Result
  • Home
  • News
  • Lead-In
  • Energy
  • Economy
  • Tech
  • States & Politics
  • Commentary
  • Editorial
  • Data
  • Others

NPA Concludes Concession Agreement, To Submit Approval To FG

by Yusuf Babalola
October 2, 2022
in Business, News
Mohammed-Bello-Koko

 

The Nigerian Ports Authority (NPA) has disclosed that the concession agreement with five terminal operators that has expired have been concluded and will be submitted to the Federal Ministry of Transportation for final approval.

Speaking over the weekend when the minister of transportation, Engr Mu’azu Sambo, conducted a familiarisation tour on the agency, the managing director, NPA, Mohammed Bello-Koko, said the agreement will be submitted before the close of work on Tuesday, 2nd October, 2022.

According to him, discussion among some terminal operators are inconclusive while some terminal operators are yet to give necessary feedback to the authority.

However, the NPA helsman lamented the 100 per cent physical examination of cargoes at the nation’s seaports, saying it’s affecting efficient cargo inspection as manual cargo examination is cumbersome and inefficient.

YOU MAY ALSO LIKE

Yuan Softens As Central Parity Rate Slides To 7.0872/$

Kano Prioritises Education As Yusuf Presents N1.36trn 2026 Budget To Lawmakers

He, stated that the terminal operators have expressed desire to purchase, maintain scanners at the Nigerian seaports while Customs will operate it.

This, he said if scanners are provided, will make Nigerian seaports more competitive and preferred destinations for cargoes in West and Central Africa.

“Manual examination of cargoes in our ports due to absence of scanners is inefficient,not sustainable, cumbersome and can’t make our port competitive. Terminal operators have, however, expressed readiness to purchase and maintain the scanners but the equipment will be maintained by the service. This will make our port more efficient, competitive and efficient in the sub-region,’ he said.

The NPA MD in his presentation to the minister, said the nation’s seaports need to explore alternative source of power generation to the seaport because of the rising cost of power generation to the seaport.

He, as well, called for the reconstruction of the collapsed quay apron at the Tin-Can Island port and collapsed jetty at Continental Shipyard.

“Matters requiring urgent attention include the reconstruction of the quay apron at Tin Can Island Port complex and collapsed jetty at Continental Shipyard Ltd. Reconstruction of collapsed berth at Federal Lighter Terminal (FLT) and fencing of common user port facility inline with specification of International Ships and Ports Facility (ISPS), code.

“Also, reconstruction of collapsed breakwater at delta port and rising cost of power generation (electricity) in the port and the need to commence procurement of alternative source of power,” he said.

Author

  • Bukola Idowu
    Bukola Idowu

ShareTweetShare

OTHER GOOD READS

Yuan Weakens To 7.1418 Per Dollar Amid Market Shifts
Business

Yuan Softens As Central Parity Rate Slides To 7.0872/$

24 hours ago
Gov Yusuf Appoints New Accountant-General, Others, Revives Kano Line
Business

Kano Prioritises Education As Yusuf Presents N1.36trn 2026 Budget To Lawmakers

24 hours ago
Kano Airport Marks Centennial Milestone, Reinforces Position As Strategic Aviation Hub
News

Kano Airport Marks Centennial Milestone, Reinforces Position As Strategic Aviation Hub

4 days ago
Next Post
MTN’s 30,000km Fibre Optic Cable, Largest In Africa’

MTN's 30,000km Fibre Optic Cable, Largest In Africa'

© 2025 | National Economy Newspaper | All Rights Reserved

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Energy
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Analysis
    • Money Guide
    • Growth
    • Sport Economy

© 2025 | National Economy Newspaper | All Rights Reserved