April 14, 2024

NPA Moves To Rehabilitate Four Ports,Shops For $800m

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by Frank Odinukaeze

The rehabilitation of four ports in the country will gulp $800 million ,Managing Director, Nigerian Ports Authority ( NPA) Mr.Mohammed Bello-Koko,has said.
The ports according to him are; Tin Can Island Port, Apapa Port in Lagos, Onne Port in Rivers State, rehabilitation of the Escravos breakwaters in Warri Port and the Calabar Port in Cross River.

Bello-Koko disclosed this ,while speaking at the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 Regional meeting which held on Thursday, February 16, in Germany, with the Vice-President of both regions, Jens Meier (Europe) and Micheal Luguje (Africa), hosting IAPH members CEO’s to a top level discussions.

According to the NPA boss, the $800 million loan facility will be repayable in a seven- year period once secured.
He also said the NPA would have opted to fund the project , but that will reduce its contribution to the Consolidated Revenue Fund (CRF).
His words,”The rehabilitation would help in achieving the digitalization of all ports in Nigeria as port rehabilitation and remedial works are no more effective.
These ports need total rehabilitation,’’
The NPA boss also stressed on the impact of the collaboration between the government and private sector partnership and the gains to the Nigerian ports.

He noted that the collaboration gave birth to the Lekki Deep Sea Port, Nigeria’s deepest seaport with an initial depth of 16.5m, noting that after the completion of the third phase the depth will be 20.5m.
While thanking participants for their fruitful contributions, Vice-President, IAPH Europe, Jens Meier, promised the strengthening and continuous collaboration between Europe and Africa towards achieving digital port goal in Africa.

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