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FG to review port concessionaires based on industry data

THE Federal Government has concluded plans to carry out an extensive review of the port concessionaires and their operations in the nation.
Acting Director General of Infrastructure Concession and Regulatory Commission, ICRC, Chidi Izuwah, said in an interview with Vanguard that the Commission, in collaboration with the Nigerian Ports Authority, NPA, has already embarked on ani n-depth study on how best to go about the exercise.
Izuwah said although the economy has not moved as expected, there could be cases of concessionaires that may have recouped their investments.
He explained that the review will not be based on emotions, but on pure industry data, adding that the end result of the exercise will be presented to the Federal Executive Council for approval.
Izuwah said,“We are doing an in-depth study with the Nigerian Ports Authority to find out what the best mechanism to use for the review. There may be some cases where some concessionaires may not have fully recouped their investment. The review will not be based on emotions. It will be based on pure data because anything that needs to be done under the ICRC will not be approved by the Federal Executive Council.
‘So you will know what the concessions are. In fact, every Nigerian will become an enforcer of concession and government agencies could be directly challenged, if they are not living up to their responsibilities. We are doing everything that Nigerians are aware and informed and things are done in a transparent way. The only way you can invite international investors is to ensure that your processes are transparent.”

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