Nigeria Upgrading Ports Infrastructure with $800mn
By Adeniyi Onifade
In order to upgrade dilapidated infrastructure at four of Nigeria’s sea ports, the Nigerian Ports Authority (NPA) has said it would cost the country $800 million.
This was disclosed by the Managing Director of NPA, Mohammed Bello-Koko, at the weekend during the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 RegioAd IAPH-member CEOs to a top level discussion.
According to the NPA boss, the $800 million, which is expected to come in as a loan facility, will be repayable in a seven-year period and will be used for the rehabilitation of the Apapa, Tin-Can, Calabar and Onne Ports.
Bello-Koko said the money would either come in as a loan or his 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 further explained that the rehabilitation would help in achieving the digitalization of these 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 need total rehabilitation. There is also a plan to rehabilitate the Escravos Breakwaters in Warri Port,” he said.
The NPA Boss harped on the impact of the collaboration between the government and the private sector 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 16.5 meters, noting that, after the completion of the third phase the depth will increase to 20.5 meters.
The 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, would be strengthened to achieve the digital port goal in Africa.
