11 May
Transport
Rivers
Implementation
Nigerian Ports Authority
04-04-2018 03:29:11
The terminal was concessioned to ensure increased efficiency of port operations, decrease the cost of port services to port users, and boost economic activities and accelerate development, among others. It is expected that the concession will further bring about improvements to the leased properties, as further described in the development plan handed over to the terminal operators during contract execution.
Includes civil works for new equipment and the upgrading of existing facilities at the terminal on a phased development basis.
During the concession term, the lessee is expected to utilize the fixed assets and such other assets to be added to the lease property for: 1. handling and delivery services for the cargoes, including without limitation stevedoring, loading and unloading of vessels, transporting, sorting, storage, and procurement, operation, and maintenance of equipment for the foregoing; and 2. repair and maintenance of the fixed assets. Other services: 1. warehousing, stuffing and stripping/unstuffing, cleaning and fumigating, and consolidation, and the procurement, operation, and maintenance of equipment for the foregoing; 2. ship-to-shore handling of supplies for vessels; 3.oversized cargo handling services; 4. terminal handling; 5. inland depot transfers; and 6. all other activities necessary to conduct operations.
A landlord model was selected to ensure that the government retains the right to supervise daily operations at the ports. The model further prescribes certain obligations that must be carried out by the lessor, such as maintenance, repairs, renewals, and replacements of the quay wall and navigational aids on the premises during the concession time. The lessor is also expected to provide certain utilities and facilities to enhance port operations. Such utilities/facilities include electricity power, water supply, tug boats, and repairs and maintenance of access/common user roads.
Done in 2005 before the port concessions. Over time, the Infrastructure Concession Regulatory Commission has also made efforts to meet with stakeholders to the ports during its periodic monitoring visits. These stakeholders include public sector officials, National Assembly members, terminal operators, and port users.
Information will be published as soon as it is available.
11 May
23 June
1 January
30 May
Redacted PPP agreement
| Type of risk | Description | Allocation | Mitigation |
|---|---|---|---|
| Pre-construction risk | Risks associated with project preparation | Public Sector | Comprehensive project plan, |
| Pre-construction risk | Risks associated with Permits/Approvals | Public Sector | Effective stakeholder engagement with relevant approving entities |
| Cost risk | Risks associated with cost Overrun | Private Sector | Effective budget and cost management and internal controls |
| Financing risk | Risk of insolvency , and risk of no longer being a going concern | Private Sector | Proper financial planning and management |
| Political risk | Risk related to change in law, taxes, scope, technical standards, regulatory framework | Private Sector | |
| Exchange rate risk | Risks associated with fluctuations in foreign currency | Public Sector | |
| Operating risk | Private Sector |
| Guarantees | |
| Grants | |
| Service payments | |
| Land Leases, Asset Transfers | |
| Other support | |
| Revenue share |
$6.1 Cargo dues, N89 delivery Charge , 5% VAT on total amount will be collected on behalf of FGN
$4, Cargo dues, N168 ,delivery Charge , 5% VAT on total amount will be collected on behalf of FGN
$3, Cargo dues, N89 ,delivery Charge ,
$3, Cargo dues, N89 ,delivery Charge ,
$4, Cargo dues, N49 ,delivery Charge , 5% VAT on total amount will be collected on behalf of FGN
$2.5, Cargo dues, N168 ,delivery Charge , 5% VAT on total amount will be collected on behalf of FGN
$2 Cargo dues, N49 ,delivery Charge
$2 Cargo dues, N168 ,delivery Charge
$90,Cargo dues,N5015 delivery charges , max delivery charge is N7073
$130,Cargo dues,N6268 delivery charges , max delivery charge is N9531
$70,Cargo dues,N3687 delivery charges
$100,Cargo dues,N6268 delivery charges
$14.3-$110.8 Cargo dues , depending on the vehicle type 5% VAT on total amount will be collected on behalf of FGN
$13.3- $ 44.18 Cargo dues depending on the vehicle type 5% VAT on total amount will be collected on behalf of FGN
| Events of Default | Brief description | Termination Payments | Documents |
|---|---|---|---|
| Financial Event | Party becomes insolvent and is no longer a going concern | ||
| Operational Event | Party fails to perform operations for 14 consecutive days in a year |
| Events of Default | Brief description of events of default | Termination Payments | Documents |
|---|---|---|---|
| Political event | There is a change in law | ||
| Financial Event | Subject to the relevant sections , the party fails to pay any amounts due in accordance with agreement |
| Year | 2009 | 2010 | 2011 | 2012 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Target | Achievement | Target | Achievement | Target | Achievement | Target | Achievement | |||||||||
| Guaranteed Minimum Tonnage (Tons) | 7460280 | 12325343 | 7833284 | 1325343 | 88224959 | 13341391 | 8636207 | 1048902 | ||||||||
| Year | 2013 | 2014 | 2015 | 2016 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Target | Achievement | Target | Achievement | Target | Achievement | Target | Achievement | |||||||||
| Guaranteed Minimum Tonnage (Tons) | 9068017 | 995850 | 9521418 | 967721 | 9997489 | 0 | 10497364 | 0 | ||||||||
| Berth Occupancy Rate (%) | 0 | 58.6 | 0 | 0 | 0 | 0 | ||||||||||
| Turn around time of vessels (days) | 0 | 5.8 | 0 | 0 | ||||||||||||
| Performance Failure 1 | Performance Failure 2 | |
|---|---|---|
| Category of failure | Financial objectives | Transparency in accounting and in operations |
| Number of events | 1 | 2 |
| Penalty or abatement provided in contract | ||
| Penalty or abatement imposed | ||
| Penalty paid or abatement effected | Yes | No |
| Performance Failure 3 | Performance Failure 4 | |
|---|---|---|
| Category of failure | Transparency in accounting and in operations | Transparency in accounting and in operations |
| Number of events | 3 | 1 |
| Penalty or abatement provided in contract | ||
| Penalty or abatement imposed | ||
| Penalty paid or abatement effected | Yes | No |
