Rehabilitation of Decaying Ports Infrastructure to Cost NPA $800m, Says MD
BELLO KOKO
By Our Reporter
The much expected rehabilitation of the nation’s decaying ports infrastructure will cost the sum of $800m, the Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, has said.
Bello-Koko who disclosed this on the occasion of the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 Regional meeting weekend, identified the Apapa, Tin-Can, Calabar and Onne ports as among those to the rehabilitated.
He disclosed that the sum will come as loan and expected to be repaid within seven years.
Bello-Koko said that the fund would either come as loan or the authority would be compelled to fund it.
He however explained that funding the rehabilitation project would lead to a reduction of what the NPA contributes to the Consolidated Revenue Fund (CRF).
The Managing Director added that the rehabilitation will help in achieving digitalization of all the four major ports in Nigeria.
According to him, “The rehabilitation of Apapa, Tin Can Island Port in Lagos, Onne and Calabar ports in the Eastern port will cost $800 million. The $800million 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 digitalization of all ports in Nigeria.
“Palliative and remedial works are no more effective. These ports needs total rehabilitation. There is also plan to rehabilitate the Escravos breakwaters in Warri port.”
During the discussion at the meeting, Bello-Koko pointed out the impact of collaboration between the government and private sector partnership, adding that it has added a lot of gains to the Nigerian ports.
He said that it was this type of collaboration that led to the Lekki Deep Sea Port, which he described as Nigeria’s deepest seaport .
The Vice President, IAPH Europe, Jens Meier, was full of gratitude for those who attended the meeting , adding that their input has been beautiful in all the session.
He promised that collaboration between Europe and Africa would be strengthened for the purpose of having a digital port goal in the Africa continent.
The much expected rehabilitation of the nation’s decaying ports infrastructure will cost the sum of $800m, the Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, has said.
Bello-Koko who disclosed this on the occasion of the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 Regional meeting weekend, identified the Apapa, Tin-Can, Calabar and Onne ports as among those to the rehabilitated.
He disclosed that the sum will come as loan and expected to be repaid within seven years.
Bello-Koko said that the fund would either come as loan or the authority would be compelled to fund it.
He however explained that funding the rehabilitation project would lead to a reduction of what the NPA contributes to the Consolidated Revenue Fund (CRF).
The Managing Director added that the rehabilitation will help in achieving digitalization of all the four major ports in Nigeria.
According to him, “The rehabilitation of Apapa, Tin Can Island Port in Lagos, Onne and Calabar ports in the Eastern port will cost $800 million. The $800million 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 digitalization of all ports in Nigeria.
“Palliative and remedial works are no more effective. These ports needs total rehabilitation. There is also plan to rehabilitate the Escravos breakwaters in Warri port.”
During the discussion at the meeting, Bello-Koko pointed out the impact of collaboration between the government and private sector partnership, adding that it has added a lot of gains to the Nigerian ports.
He said that it was this type of collaboration that led to the Lekki Deep Sea Port, which he described as Nigeria’s deepest seaport .
The Vice President, IAPH Europe, Jens Meier, was full of gratitude for those who attended the meeting , adding that their input has been beautiful in all the session.
He promised that collaboration between Europe and Africa would be strengthened for the purpose of having a digital port goal in the Africa continent.
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