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The Nigerian Ports Authority (NPA) has defended delays in renewing port concession agreements, stressing that a rigorous review is critical to investor confidence and long-term stability.
Speaking at an interactive session with Maritime Reporters Association of Nigeria (MARAN), on Tuesday, NPA’s Managing Director, Abubakar Dantsoho, said the government is prioritising the correction of structural flaws in existing agreements before granting renewals.
Dantsoho, who was represented by the General Manager, Corporate Affairs, Mr. Ikechukwu Onyemekara, acknowledged concerns raised by terminal operators over uncertainty but maintained that a flawed agreement would do more harm than a delayed one.
“The end justifies the means. It is better to get it right than to rush into agreements that will be challenged later,” he said.
Dantsoho noted that both the NPA and concessionaires had raised concerns over unmet obligations, which must be resolved before any extension.
He stressed that investors prioritise clarity and legal certainty over speed.
“No investor will put money where the legal framework is weak. What matters is the quality of the agreement, not how fast it is signed,” he added.
He indicated that the outcome of the review could attract new investors, especially if existing operators choose not to continue.
On Inland container depots and bonded terminals, in a blunt assessment, Dantsoho said operators of inland container depots and bonded terminals must adapt to changing realities, warning that declining congestion may render their current business models obsolete.
“They played their role during congestion. But business is dynamic. They must restrategise,” he said.
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