The Nigerian Ports Authority (NPA) has failed to meet its self-imposed three-month deadline for the review of port concession agreements it signed with private terminal operators at the nation’s seaports. She had said at the time that NPA was meeting with terminal operators to get their inputs on the review of the 12-year old agreement. “Nigeria should expect a supplementary agreement that will be signed with the concessionaires,” the NPA MD had explained then. However, almost four months after setting the three-month deadline, NPA is yet to deliver on its promise to review the port concession agreement. The revised concession agreement is expected to, among others, review the guaranteed minimum tonnage clause, which has been a major challenge facing terminal operators.

Source: Nigerian Tribune January 01, 2019 17:48 UTC