Nigerian Ports Authority seeks $800m for ports rehabilitation
The Nigerian Ports Authority (NPA) has said that $800million is required for the rehabilitation of dilapidated port infrastructure at the Apapa, Tin-Can, Calabar and Onne Port.
The managing director of the NPA, Mohammed Bello-Koko, disclosed this on Thursday, during the International Association of Ports and Harbours (IAPH) Europe and Africa 2023 Regional meeting, where the vice president of both regions, Jens Meier (Europe) and Micheal Luguje (Africa), hosted IAPH members CEOs to top level discussions.
The NPA MD said that the $800 million would expectedly come in as a loan facility that would be repayable in a seven- year period.
Bello-Koko said the money would either come in as a loan or the agency would be forced to fund the rehabilitation project which would lead to a reduction of its contribution to the Consolidated Revenue Fund (CRF).
He said the rehabilitation would help in achieving the digitalisation of all the four ports in Nigeria.
“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,” Bello-Koko stated.
He stressed on the impact of the collaboration between the government and private sector partnership and the attendant gains for Nigerian ports.
He disclosed 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.
Appreciating attendees for their input during the session, the vice president, IAPH Europe, Jens Meier, said that continuous collaborations between Europe and Africa would be encouraged to achieve the digital port goal in Africa.