Its more worrisome to note that most of the concessionaires are foreigners who are in Nigeria to make huge profits, thereby ignoring local content.ĭuring the National Economic Empowerment and Developmental Strategies (NEEDS), where private individuals were encouraged by the federal government to invest and participate economically in maritime businesses, bonded terminal operators borrowed not less than N3.5 trillion to finance acquisition and improvement of facilities. Are you surprised? Some of these concessionaires are APM Terminal, ENL Consortium, Ports and Cargo Handling Services Limited, Ports and Terminal Multipurpose Limited (PTML) and Eko Support Services Limited (ESS), among others. Since 2006 when the government concessioned the modern ports to concessionaires, over 90 per cent of bonded terminals in the country currently operate below 15 per cent utilization capacity. PATRONIZING THE BONDED TERMINALS AS A SOLUTION TO PORT DECONGESTION & ROLE OF THE DREDGING INDUSTRY:
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