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FG hands over Warri port terminal to concessionaire

The Bureau of Public Enterprises has privatized Terminal B of the Warri Old Port to a private concessionaire, Ocean & Cargo Terminal Services Limited. Mr. Abudu Eroje, Deputy Secretary-General, Maritime Workers Union of Nigeria (MWUN) “commended the concession of the Warri Port. He said that when fully operational, the port would ease the persistent gridlock on roads leading to the Lagos ports.”

Source: Punch Newspapers

Privatization commission mulls at selling state owned corporations

The Kenya Port Authority will not be privatized, but other parastatal corporations are on the chopping block. This has drawn criticism. “Analysts argue that while privatization is the way to go, a fire sale shows desperation, will result in undervaluation with the taxpayer getting the short end of the stick. ‘Auctioneer mindset to sell the family silver and raise cash quick is not going to be productive in the long term or remunerative in the short term,’ Deepak Dave of Riverside Capital said.”

Source: YouTube

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