Business News
President Yar’Adua commissions port terminal, warns concessionaires
Jun 20, 2008, 15:03
| | President Umar Musa Yar’Adua has warned that government would sanction erring ports concessionaires even as he observed that while some concessionaires had in the last two years shown serious interest in upgrading their facilities, others had regrettably shown no interest in investing in the industry.
President Yar’Adua gave the warning in Apapa, Lagos on Thursday June 19 when he commissioned the Apapa Container Terminal owned by APM Terminals Apapa, Limited, a subsidiary of global logistics giant and port operator, AP Moller.
President Yar’Adua said NPA management had been directed to ensure that appropriate sanctions were meted out to the concessionaires that had failed to make significant efforts towards the development of their terminals.
According to him, the high level of transformation done to the terminal by APM Terminals Apapa, Limited was a clear manifestation of the importance of public/private sector participation, which was the underlying principle of the Federal Government’s port reform agenda.
Government, he said, would continue to address the challenges of the nation’s transport sector considering its importance to other sectors of the economy, arguing that the private sector plays a critical role as an engine of growth of the economy.
The President noted that government’s strategy in the port industry was to continue encouraging public-private sector participation to facilitate competition as well as modernise the ports.
“I am proud of what I see here today, judging by the level of transformation of the Container Terminal just in two years. I congratulate APM Terminal,” the President said.
On the seven-point agenda of his administration, he said government would continue to engender the requisite environment as well as pursue policies that drive the country in line with the 2020 projections.
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