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Nigeria seeks $800m facility to rehabilitate, digitalise 4 ports

Posted on February 22, 2023

The Managing Director/CEO of the Nigerian Ports Authority (NPA), Mr. Mohammed Bello -Koko, has said the rehabilitation of Apapa and Tin-Can Island Ports in Lagos, Onne port in Rivers State and Calabar port in Cross River State would required about $800 million to complete.

He said the money for the rehabilitation would either come in as loan from financial institutions or directly from the NPA  which will lead to a reduction in it’s contribution to the Consolidated Revenue Fund (CRF).

Bello-Koko who spoke at the weekend during the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 Regional meeting where the Vice-President of both regions, Jens Meier (Europe) and Micheal Luguje (Africa), hosted IAPH members CEO’s to a top level discussions.

He revealed that the $800 million, coming as a loan facility will be repayable in 7- year period.

He said the rehabilitation would help in achieving the digitalisation of all the four ports in Nigeria, adding that the rehabilitation of Apapa, Tin Can Island Port in Lagos, Onne and Calabar ports in the Eastern port will cost $800 million.

“The $800 million will either come in as a loan or NPA will fund the rehabilitation, which will reduce its contribution to the CRF.

“This will help in achieving the digitalisation of all ports in Nigeria. Palliative and remedial works are no longer effective. These ports need total rehabilitation. There are also plans to rehabilitate the Escravos breakwaters in Warri port,” he stated.

The NPA boss also stressed the impact of the collaboration between the government and private sector partnership and the gains to the Nigerian ports.

He said that the collaboration gave birth to the Lekki Deep Sea Port, Nigeria’s deepest seaport with an initial depth of 16.5meter, noting that after the completion of the third phase the depth will be 20.5m..

For his part Vice-President, IAPH Europe, Jens Meier, thanked attendees for what he called their beautiful input during the session and promised the continuous collaboration between Europe and Africa which he said will be strengthened to achieve the digital port goal in Africa.


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