The House of Representatives has initiated a comprehensive investigation into concessionaires managing Nigeria’s air and seaport terminals, nearly 20 years after the policy was introduced, calling for greater transparency, accountability, and value for money.

Chairman of the Ad-hoc Committee, Hon. Kolawole Davidson Akinlayo, disclosed the probe on Tuesday during an investigative hearing at the National Assembly in Abuja, describing it as a critical step in the panel’s mandate.

He explained that the investigation aims to evaluate the effectiveness of the port concession regime launched in 2006, which was designed to enhance efficiency, attract private investment, and improve infrastructure in Nigeria’s aviation and maritime sectors.

The committee will engage terminal operators to determine whether the policy has delivered the intended economic benefits to the Federal Government and Nigerians. Akinlayo emphasized that the panel will assess performance, value for money, compliance with concession agreements, and the transparency of operations.

“All concessionaires must provide accurate and verifiable details of their operations, investments, and compliance levels. The credibility of these submissions will guide the committee’s recommendations,” he said, urging full cooperation and professionalism.

At the hearing, Olayiwola Olaruwanju highlighted significant investments by terminal operators in equipment and infrastructure. He noted that operators have expanded operational trucks from 20 to about 125, upgraded cargo handling equipment, and invested in reach stackers, forklifts, terminal tractors, and empty container handlers, with costs running into tens of millions of dollars.

Olaruwanju also pointed to improvements in operational efficiency, adoption of information technology systems, enhanced cybersecurity measures, and ongoing human capital development within the sector.

The committee plans to continue engagements with stakeholders before producing a comprehensive report on the impact of the port concession policy on Nigeria’s economy, aiming to ensure that public-private partnerships deliver tangible benefits. (Vanguard)