The House of Representatives Committee on Privitisation has approved six months extension of the Concession of Port infrastructure in the country.
At an investigative hearing by the Committee on Privitisation, the Minister of Marine and Blue Economy, Gboyega Oyetola, says President Bola Tinubu is determined to rejuvenate the sector going by the demonstration of the needed political will.
National Assembly Correspondent, Joke Adisa, reports that two weeks ago, the Committee on Privitisation summoned the Ministers of Marine and Blue Economy and Transport over the handling of the Concession of Port infrastructure.
At a meeting convened, the panel interfaced with all critical actors to understand what has been delaying the renewal of the Port Concession.
Minister of Blue Economy, Gboyega Oyetola, who appeared before the Committee excused himself for other official engagements, leaving behind the Permanent Secretary to and heads of agencies under the two Ministries.
The Ministry insists the Concession cannot be renewed until the rot and decay are redressed
It estimates that US$1 billion is required in investment to achieve set goal
At the end of the over five-hour long meeting, which was behind closed doors, the Committee chairman says an amicable resolution has been reached
Expectations are that issues delaying the concession of ports infrastructure across the country would have been dealt with in the next six months for the process of ending the huge loss suffered by Nigerians on a daily basis.
