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The Organised Private Sector (OPS) has condemned the move by the Nigerian Ports Authority (NPA’s) to stop the commissioning of BUA Ports and Terminal in Port Harcourt, Rivers State.
With the action, the sector said the Nigerian economy was on the verge of losing a whopping $400 million (N146 billion) and over 1,000 jobs.
Condemning the punitive action of NPA, OPS said it was tantamount to an economic sabotage that could negate the inflow of foreign investment and genuine firms from the shores of the country amid government agencies’ over-regulation of the country’s business environment.
Particularly, the private sector wants the Federal Government to prevail on NPA to rethink its action and lift the ban by allowing BUA to continue to use the port terminal for business, because of its impact to national development.
General Manager, BUA Ports & Terminals Limited, Mohammed Lile Ibrahim, who spoke at a briefing with newsmen last weekend, explained that the action by the government agency was a breach of the country’s port concession agreement expected to send bad signals about the image of the country’s business environment to the international community and also stifle efforts to attract investments into the country.
