Nigeria Maritime Online

The Shipping Correspondents Association of Nigeria (SCAN) warns that delays in renewing port concession agreements—many signed in 2005–2006 and expiring around 2021–2022—threaten investor confidence, operational efficiency, and government revenue, risking job losses, higher costs for consumers, and setbacks to port reform gains unless the Federal Government expedites renewals.

Key Points

• SCAN expressed concern that delayed renewal of port concessions undermines investor confidence.
• Most major port concession agreements were signed during 2005–2006 after port reforms beginning in 2004.
• Initial concession terms ranged from 10 to 25 years, with many expiring around 2021–2022.
• Uncertainty over renewals discourages investment in infrastructure and technology upgrades.
• Operational stagnation from renewal delays harms productivity, turnaround times, and service delivery.
• Reduced port efficiency can lead to lower government revenue and broader fiscal impacts.
• Prolonged delays risk job losses, contract disputes, and industrial unrest among port workers.
• Inefficiencies at ports increase the cost of doing business, which raises prices for consumers.
• SCAN urged the Federal Government and relevant authorities to act decisively to expedite the renewal process.