The Nigerian ports Authority (NPA) is profusely bleeding from the laceration and bruises it sustained from the vicious but serial looting of its treasury by its joint ventures partners.

Ironically, the Public-Private Partnership (PPP) initiative which was evolved by the Federal government to fund some of its statutory infrastructural obligations to the masses through Joint Venture arrangement with private business interests has gone awry in the NPA.

In 2005 and in line with this PPP arrangement, the NPA formed two joint venture companies with some business interests to carry out both capital and maintenance dredging of the port channels in Lagos and Eastern ports axis which include the Bonny Channel Company Limited established and incorporated in August, 2005 with 60 per cent equity shareholding by the Nigerian Ports Authority and 40 per cent equity shareholding by the consortium, (TCMC) The Channel Management Company Limited.

The shareholding structure of BCC provides for the appointment of three NPA Directors as members of BCC Board and two Directors from the Joint venture partners...

Read more http://alabingo.com/2017/08/npa-gang-raped-t…artners-12-years/

How real are this figures?