Nigerian Government to Concession Waterways for Revenue Growth

The Federal Government of Nigeria, under the directive of Gboyega Oyetola, is set to concession major waterways to drive revenue growth and promote the maritime blue economy sector. The Nigerian Inland Waterways Authority (NIWA) will commercialize and concession these waterways to increase revenue generation. Oyetola emphasized the need to rethink revenue generation beyond traditional methods and adopt a more creative approach to monetize waterways effectively. The goal is to transform river ports into active hubs for commercial and industrial activities, enhancing logistics and safety enforcement. The concession strategy aims to attract private investment, develop economic corridors, and improve revenue collection systems.

Furthermore, NIWA's management, led by Alhaji Umar Yusuf Girei, is reviewing proposals for private companies to concession certain areas of the waterways. The agency is also working to enhance revenue monitoring and prevent corruption through digitalization efforts. Dr. Musa Adamu Aliyu of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) pledged support to prevent corrupt practices within NIWA. The government's focus on revenue generation and anti-corruption measures underscores its commitment to improving the economic potential of Nigeria's waterways.