Onitsha Port Concession Signed with Target to Generate N23bn in 30 Years
Honourable Minister of State for Transportation, Senator Ruqayyah Saraki responding to media enquiries at the end of the tour of LPC and TCIP in Lagos. PHOTO BY NPA MEDIA
By Our Correspondent
The Minister of State for Transportation, Senator Gbemisola Saraki, on Thursday said the Onitsha River Port has a lot of economic benefits to the country.
Saraki said the port will generate about N23 bn to the federal government in 30 years as part of the concession agreement.
The Minister who disclosed this during the concession signing ceremony in Abuja said the port will create a lot of wealth and jobs.
She described the seaport as one of catalyst for other river ports.
Saraki also said the river port is targeted at decongesting other seaports and therefore usher in growth.
She added that the river port will be to address the issue of traffic on the roads, stating, “And so it is a very good thing and we are exceptionally proud that at long last we have achieved this.”
The Minister disclosed that other river ports, including Baro, Lokoja and Oguta will follow in the stage of concessioning like Onitsha.
According to her, the river ports were in different stages of completion.
She said “the most important thing is that we already have interest from potential investors who want to actually take over this.”
The Managing Director, the National Inland Waterways Authority (NIWA), George Moghalu, said the Onitsha river port will reduce the traffic of cargoes going to the South East by road.
Moghalu expressed optimism that the concession will open up opportunities for other ports to be given necessary considerations.
The Minister of State for Transportation, Senator Gbemisola Saraki, on Thursday said the Onitsha River Port has a lot of economic benefits to the country.
Saraki said the port will generate about N23 bn to the federal government in 30 years as part of the concession agreement.
The Minister who disclosed this during the concession signing ceremony in Abuja said the port will create a lot of wealth and jobs.
She described the seaport as one of catalyst for other river ports.
Saraki also said the river port is targeted at decongesting other seaports and therefore usher in growth.
She added that the river port will be to address the issue of traffic on the roads, stating, “And so it is a very good thing and we are exceptionally proud that at long last we have achieved this.”
The Minister disclosed that other river ports, including Baro, Lokoja and Oguta will follow in the stage of concessioning like Onitsha.
According to her, the river ports were in different stages of completion.
She said “the most important thing is that we already have interest from potential investors who want to actually take over this.”
The Managing Director, the National Inland Waterways Authority (NIWA), George Moghalu, said the Onitsha river port will reduce the traffic of cargoes going to the South East by road.
Moghalu expressed optimism that the concession will open up opportunities for other ports to be given necessary considerations.
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