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Home » Port Reform Has Aided Private Sector Investments In Nigerian Ports – MD, NPA

Port Reform Has Aided Private Sector Investments In Nigerian Ports – MD, NPA

by Joshua
May 1, 2010
in Uncategorized

Managing Director of Nigerian Ports Authourity, Malam Abdulsalam Mohammed has disclosed that the four – year old port concessioning has heralded tremendous influx of direct foreign investments into the economy and also opened the nation’s seaports to various business opportunities.

Making this assertion at the recently concluded First USA-NIGERIAN Trade Investment and Framework Agreement (TIFA) business forum which held at the cities of Atlanta, Houston and Chicago, the NPA boss disclosed that the agency has recorded major successes in investment by both foreign and local companies in the areas of concession, Build Operate and Transfer (BOT) and project funding through amortization.

Other areas that have also recorded tremendous success according to him are: channel management, liquid and solid ship waste disposal, marine craft maintenance, cargo tracking note and ship repairs.

The Managing Director who was represented at the forum by General Manager, Eastern Ports, Mr. Sotonye Etomi highlighted potential areas that are still open to investors, to include: port and tourism development opportunities that exist at the Snake Island, Takwa Bay Islands and at the free trade zones where 65 per cent of land is still available for utilization.

He also disclosed that the NPA has received approvals to develop independent power plants and called for investments in this area saying that opportunities still exist as there are enough stakeholders in the port family to consume the power.

While welcoming the participants at the forum, the Consul- General of Nigeria Consulate in Atlanta, Hon Chudi Okafor who was represented by Mr M.O.Fagbohun encouraged investors from both countries especially from America to look beyond the oil and gas sector and take advantage of the investment opportunities in other sectors. 

While declaring the forum opened, the minister of Commerce and Industry, Senator Jubril Martins Kuye, under whose ministry the forum was organised, said that the essence of the forum was to educate, enlighten and sensitise all possible investors about the opportunities and challenges of investing in Nigeria.

According to him, “the opportunities are huge and enormous while the challenges are not as horrendous as many think, they are declining and abating in scope “.

The NPA equally seized the opportunity of the forum to present to the American Corporate leaders and senior policy makers a wide array of investment opportunities in the Ports sector and also discussed ways in which these opportunities can be realized.

 


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