BY JOSEPH ERUNKE

ABUJA— THE Senate has hailed recent concessioning of the ports by the Federal Government through the Bureau of Public Entreprises, BPE, saying it was generating high revenue for the country.

Although the Senate failed to give the percentage of the revenue being generated by the concessioned  ports, it added that the ports were contributing high revenue to the nation’s annual budget as against the pre-concessioning period when the Federal Government allocated huge sums to maintain the ports.

A statement, yesterday, by Chigbo Anichebe, Head, Public Communications of the BPE, said the upper chamber spoke through its Chairman, Committee on Public Entreprise, Senator Olugbenga Obadara, during the committee’s oversight visit to Tin Can Island Port, Lagos.

Obadara explained that efficient service delivery and massive infrastructural development at the ports were major reasons for the concessioning.

He noted that the aim was significantly achieved as  services at the ports had not only improved, but that the ports were also contributing immensely to the revenue base of Nigeria.

Earlier, the Port Facility Manager of Five Star Logistics Limited, concessionaire of Tin can Island Port Roro Terminal, Mr. Fulwood Bizzaro, had told the lawmakers that despite several challenges, the concessionaire had ensured strict adherence to the agreements it signed with BPE and Nigerian Ports Authority, NPA.

Bizzaro said in line with the concessionaire’s  development plan for the port terminal, it had  developed  sixteen 17 square metres of  land for container and cargo stacking to handle the increased vehicle importation in the country.

The General Manger of Josephdam Port Services Limited, Mr. Dimon Travers said the recent approval by the government for the company to extend its  lease on Tin Can Island Port Terminal ‘A’ by five years, had given them  the opportunity to fully comply with the tenets of the concession agreement and to also  develop the terminal.