The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

IMMIGRATION Minister Keith Bell and former Prime Minister Dr Hubert Minnis clashed over the Nassau Cruise Port yesterday after the Carmichael MP said the Minnis administration executed a bad lease agreement.

Mr Bell claimed the country would lose “hundreds of millions of dollars” in revenue for at least 27 years even though the government invested millions in the Nassau Harbour.

Mr Bell said the Minnis administration executed a lease for 93 acres of land, adding: “All we got and all we’re getting is an estimated $2.8m per year for 93 acres.”

Mr Bell said while the port would earn an estimated $575.8m over five years, only $18m would go to the government in lease fees.

“The revenue lost by the government include rent from Festival Place, facility fees and berthing fees,” he said. “Y’all know what is berthing fees. That go to them. We ain’t getting nothing. The revenue over 25 years for them is over $2bn and the government then gets the liabilities, and they get the assets. Who do that –– the competent authority himself. Only the FNM could’ve cut such a bad deal.”

“In 2023, it is estimated that the port will earn $78m in revenue and pay a lease to the government of $2.8m. In 2024, the port revenue is estimated to be $90m and the lease fee to government is $2.6m. In 2025, $97.6m goes to the port. The government gets $2.6m. In 2026, the port will get $105m, the government gets $2.6m. In 2027, the last year of projections, the port gets $114.8m, the government gets $2.8m. Call the police. Over the five-year period, the government will get $18m and the port will get $575,800,000.”

Responding, Dr Minnis accused Mr Bell of misinforming Bahamians.

“Previous to this port, we were collecting I think 70 cents per passenger,” he said. “It has subsequently gone up now to $10 per passenger.”

“In addition to that, the government gets 10 per cent VAT on the revenue which is added. In addition to that, the port is owned 51 per cent by the Bahamian people and 49 per cent by the global port which means after expenses the bulk of it goes to the Bahamian people.”

Dr Minnis also noted that as passenger volume increases, so will the nation’s revenue.

For his part, FNM deputy leader Shanendon Cartwright questioned why the Davis administration would still proceed with the deal if they thought it was a bad one.

In a later interview with The Tribune, Dr Minnis said: “They are the government so cancel it if it’s a bad one, but if it’s not, then shut up.”