Statutory Duties And Functions
This system hindered port development and curtailed operational efficiency. The ports became less competitive and a conduit to drain the meager national resources.
In an attempt to change this trend, the activities of the Authority (NPA) were commercialized and offered greater autonomy in accordance with the recommendation of the Technical Committee on Privatization and Commercialization. However this could not bring the expected improvement because of the public service bureaucracy and interference. It was later revised to the initial status.
In an effort to reposition and enhance the national economy, the Federal Government embarked on various reform initiatives in the public sector, which includes the maritime sub-sector. This initiative was to foster an economy that is responsive, robust, private sector oriented and in line with the international best practices.
In line with the reform programme, the transactions commenced with the advertisement for Expression of Interest EOIs on the 3rd of December 2003 by the National Council on Privatization with the Bureau of Public Enterprises acting as the transaction agent. A total of 110 EOIs were harvested out of which 94 were pre-qualified.
Pre-bid conferences, Data room and physical due diligence were also done and request for proposals sent out to bidders.
Technical bids were submitted and evaluated and financial offers also opened to determine the successful bidders.
All the successful bidders negotiated their concession agreements with a public sector team made up of Nigerian Ports Authority and the Bureau of Public Enterprises. Successfully negotiated agreements were signed and transaction programmes initiated preparatory to handing over.
Under this new arrangement , the Authority ceded some of her functions and responsibilities as enumerated below:
Nigerian Ports Authority:
Federal Ministry of Transportation: