The House of Representatives has launched an investigation into Nigeria's airport and seaport terminal operators. The investigation comes nearly 20 years after the concession policy began.

The committee is demanding more transparency, accountability, and value for money from these operators.

Mr. Kolawole Davidson Akinlayo, the committee chairman, announced the probe during an investigative hearing in Abuja on Tuesday.

He described this investigation as a critical step in the committee's mandate.

The investigation will examine whether the port concession policy implemented in 2006 has been successful.

This policy was designed to improve efficiency, attract private investment, and upgrade infrastructure in Nigeria's aviation and maritime sectors.

The committee will meet with terminal operators to determine if the policy has delivered economic benefits to the federal government and Nigerians.

Akinlayo emphasized that the panel will assess performance, value for money, compliance with concession agreements, and operational transparency.

He stated: 'All concessionaires must provide correct and verifiable information about their operations, investments, and compliance levels. The credibility of these submissions will guide the committee's recommendations.'

The chairman called for full cooperation and professionalism from all parties involved.

During the hearing, Olayiwola Olaruwanju highlighted significant investments made by terminal operators in equipment and infrastructure.

He noted that operators have increased operational trucks from 20 to approximately 125 units.

They have also upgraded cargo handling equipment and invested in reach stackers, forklifts, terminal tractors, and empty container handlers.

Olaruwanju mentioned that these investments have cost tens of millions of dollars.

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

The committee plans to continue engaging with stakeholders before producing a comprehensive report on the impact of the port concession policy on Nigeria's economy.

The report aims to ensure that public-private partnerships deliver tangible benefits to the country.

House investigates port operators after 20 years, demands financial records

Suggested for you

More Stories

Democrats ask judge to stop Trump order on mail-in voting

In prime-time address, Trump tells wary public Iran goals nearly achieved

Republicans plan to end partial government shutdown

Kalu supports new state in South-East, proposes 'Animoma' model

Shettima to launch Nigeria's first university pods at UNILAG

Maritime Academy of Nigeria expects N24bn revenue

Discussion