Sifax Group Acquires $20Million Equipment As Labour Charge NPA to Extend its Concession Agreement by 40years

Indigenous conglomerate, Sifax Group yesterday commissioned port handling equipment worth over twenty million dollars at it’s terminal; Ports and Cargo Handling Services Limited, located at the Tin Can Island Ports in Lagos.

Going by the huge investment, the Maritime Workers Union of Nigeria (MWUN) has called on the Federal Government through the Nigerian Ports Authority (NPA) to extend the concessioning agreement of Ports and Cargo by 30 to 40 years.

The new equipment acquired are 5 shore cranes, 9 Reach Stackers, 10 terminal tractors, 5 Nissan pickup vehicles, 4 trailer backs and other machineries.

Speaking at the commissioning ceremony yesterday, the Group Managing Director of Sifax Group, Mr Adekunle Oyinloye assured that Ports and Cargo has come to stay at the Tin Can Port for a long year.

He assured that the company is looking forward to doubling it’s revenue by 300percent in the next coming five years.

According to him, the acquisition of the equipment was part of the company’s strategic investment to deliver quality service to its clientele and to further attract more patronage.

“With our new internal restucturing project code named Quantuam Leap, SIFAX Group is respositioning itself to become the first choice terminal not just in Nigeria but in West Africa. We have also set a target that will increase our revenue with over 300% in five years”

“One of the ways, we can achieve our set targets is to first begin with investment in equipment which will complement our excellent personnel asset. These new equipment are the best and latest in town, they will catapult us into the next level growth we are working towards”, he noted.

In her goodwill message, Managing Director of Nigerian Ports Authority (NPA) Hadiza Bala Usman commanded Sifax Group Chairman, Dr.Taiwo Afolabi for investing in terminal operations in Nigeria.

Hadiza who was represented by Hajia Ali Ibrahim, Assistant General Manager Operations of NPA assured that her leadership of of the NPA has always supported laudable investment in the port.

“For any port to be efficient, you need not only good number of plants and equipment but also quality and productive ones, with what we have seen today, we expect so much in the years ahead for Ports and Cargo Terminal”

“We celebrate with Ports and Cargo on this laudable investment” she said

On his part, President General of Maritime Workers Union of Nigeria (MWUN) Comrade Adewale Adeyanju gave Sifax Group a clean bill of health and called on federal government to extend its concessioning agreement by 30-40 years.

Adeyanju urged other terminal operators to take a cue from Sifax Group and invest in their terminal business.

He said “The maritime workers Union of Nigeria will continue to support our own indigenous terminal operators, what Ports and Cargo did today has shown that there is efficiency in privatizing the Nigerian seaports”

“When your child is good, you need to applaud him, Sifax has started very well and we pray that they are going to end it well”

“We clamoured for their extension because of the good innovations they have brought into terminal operations, and I will like the other terminals too to emulate the good gesture that he has brought into his terminal, any terminal that cannot do the same should resign”

“Its a new dawn in terminal operations for Sifax group management team and even the NPA should extend their concessioning agreement by thirty to forty years”

“Why doing that, the workers must not be forgotten because they are the ones that laid the golden egg” Adeyanju charged

While welcoming the guests, Mr. John Jenkins, Managing Director, Ports & Cargo Handling Services Limited, said there was a need to acquire the latest equipment in order to meet the architecture requirements of modern ship calling the terminal.

He noted further the company was already engaging several shipping lines in order to boost the company’s clientele base.