Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has tasked Ocean & Cargo Terminal Services Limited-the Concessionaire of Terminal ‘B’ Warri Old Port to focus on increased efficiency, improved service delivery, modernized port development and reduction in the cost of shipping & clearing of goods in line with the federal government’s objective in Port Concession.
At the signing ceremony for the Concession of the Port between the Concessionaire and the Bureau, witnessed by critical stakeholders; including the Nigerian Ports Authority (NPA) in Abuja , Okoh said “Government expects nothing less than strict adherence to the terms of the Concession Agreement from the Concessionaire”.
He reminded Ocean & Cargo Terminal Services Limited that the pursuit of its business objectives must be tailored in a way that would assist in the realisation of objectives of the Port Concession programme of the Federal Government.
According to him, the federal government’s Ports Concession Programme under the management of the BPE commenced in 2005 and culminated in the concession of over 23 terminals to private operators. He noted that it represents one of the success stories of the privatisation and commercialisation programme in Nigeria and a credible testimony of the viability of the Private Public Partnership (PPP) model in the development and delivery of critical public infrastructure in Nigeria.
“At the closing date for submission, 13 EOIs were received and subsequently evaluated. After the evaluation, 7 firms achieved the minimum qualification mark and were prequalified for issuance of Requests for Proposals (RFP) and Information Memorandum. Unfortunately, due to certain challenges, the issuance of the RFPs was delayed for about two years. At the coming of the current government, the NCP at its meeting held on the 22nd & 23rd August, 2017 approved the continuation of the bidding process which included issuance of RFPs and Information Memorandum to the subsisting 7 pre-qualified firms, physical due diligence and data room exercise, evaluation of the technical proposals and finally the financial bid opening”, he added.
Okoh revealed that the NCP at its meeting on June 12, 2018, approved the Technical bid and the Financial bid of US$100,782,147.53 (One Hundred Million, Seven Hundred and Eighty-Two Thousand, One Hundred and Forty-Seven US Dollars and fifty-three cents) submitted by Ocean and Cargo Terminal Services Limited which emerged as the preferred bidder for Terminal B Warri Old Port.
In her remarks, the Managing Director of Nigeria Ports Authority (NPA) Ms. Hadiza Bala Usman expressed delight at the conclusion of the concession of the terminal and noted that the concession of the Port is an important milestone in the economic development of the country.