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Independentng.com homepage - Home of Independent Newspapers Nigeria LimitedGroup warns over take over of ports by foreigners

Last Updated: Wednesday, November 10th, 2004 HOME | Previous Page

Group warns over take over of ports by foreigners

 

By Sunny Igboanugo

metro editor

 

Stakeholders at the ports on Tuesday warned that because Nigerian ports remain part of the national gateways carrying considerable security implications, its management must never be left fully in foreign hands.

Against the backdrop of the move by the Federal Government to privatise the nation�s ports and the interests already shown by some foreign firms whose financial and technical muscle could sway their chances of securing the ownership of the facilities against their less financially endowed Nigerian counterparts, the stakeholders under a consortium, made up of five companies, raised the issue of security of the nation as one the government must not gloss over.

Under a Special Purpose Vehicle (SPV) for the sole purpose of bidding for the concession of the Apapa Container Terminal Port, the consortium in a statement on Tuesday said Nigeria would only be making the same mistake it made in the oil industry if it allowed Apapa port to be controlled 100 per cent by foreigners, who are merely interested in their own affairs rather than the development of the ports and creation of jobs for Nigerians.

The group under the name Nigerian Ports Holdings, plan to commit $40million (N5.6billion) immediately they have access to the ports to provide modern facilities of world class standards, which would also quicken the functions of the port, eliminate time wasting, corruption as well as make services cheaper for port users.

Chairman of the consortium, which would have equal stake of 20 per cent of the bid investment, Eze Obioha N. Ugoji, told reporters at a press conference in Lagos that the group decided to come together following the reluctance of the major international port management companies to enter into joint venture relationship with their Nigerian counterparts.

He said the interest of the foreign firms already touted as bidding alongside some Nigerian pre-qualified firms was much on the Apapa ports because of its relative calm and the strategic importance to the Gulf of Guinea, where a lot of crude oil had been discovered recently and which presently account for 25 per cent of the world�s oil basket.

He said the consortium was still interested in admitting more members and was already talking with five other Nigerian companies of the pre-qualification list towards forming a broader spectrum for the bid, adding that the purpose of the initiative was solely for the bid.

Mr. Obi Ubeku, a representative of one of the firms told Daily Independent that the only edge the foreign firms could have on Nigeria was their financial muscles adding that the companies in the consortium were made of tested hands in the Nigerian ports, which were very versatile and competent to handle its operations, adding that the group would manage the ports more efficiently than the Nigerian Ports Authority, currently operating it.

 


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