Transaction Advisory Services for the Restructuring of the Nigerian Ports Authority and Concession of 26 Terminals
Bureau of Public Enterprises (BPE)
The overall objective of this mandate was to develop an efficient and competitive ports sector in Nigeria. There were three component work streams involved:
Design and establishment of a general transport sector regulator (i.e. multi-sectoral);
Restructuring of the Nigerian Ports Authority (NPA) into independent port authority, to cut system overheads and increase inter-port competition; and
Concessioning of 24 terminals of NPA in line with the landlord ports model, to pave the way for dramatically improved service and lower tariffs.
These initiatives were expected to (i) increase efficiency;(ii) decrease costs to the Government; (iii) provide Government earnings through rents and royalties; (iv) boost economic activity, (v) and position Nigeria as a hub for freight in West Africa.
Under a more efficient, market-driven management, the ports would be poised to facilitate greater international trade, enabling Nigeria and its people to reap the rewards of this increased participation.
CPCS was engaged to develop a detailed regulatory framework and to assist in the finalization and implementation of the new Ports Act. The implementation of a new legal and regulatory policy for the port system of Nigeria would support a fair and competitive environment for all operators; greater private sector participation through the concessioning of up to twenty six port operations/terminals; the restructuring of the NPA as a landlord; and the establishment of autonomous legal port entities where justified.