NPA Delays Lekki Deep Sea Port Construction

The alleged failure of the
Nigerian Ports Authority (NPA), to pay its 20 per cent eguity construction of the Lekki Deep Sea Port in Lagos State had been  attributed to the delay of the project.
The project with a 60-20-20 financing ratio spread amongst some foreign investors, tagged the Tolaram Group; the Federa Government, represented by the NPA; and Lagos State government to also donate choice lands to fulfill its part, while the NP A allegedly gave nothing, till date.
Sources indicated that while it had taken the Tolaram Group about eight years to complete the Market, Enginering and impact studies sections of the port; the project now suffers delay, as NPA’s continue witholding of its 20 per cent equity funding, which may rustrate the 2016 completion and operational date of the Lekki project.
In the meantime, the  NPA Executive Director, Engineering and Technical, Mr Mohammed Saleh recently told the visiting Senate Committee that the Authority failed to pay the equity because the authority needed a technical auditor to confirm the amount the concessionaire had spent, especially from the report submitted by the Tolaram Group.
Saleh said money had been appropriated for it, there was still genuine need to be sure of the $60 million the concessionaire claimed to have spent so far before it puts down its money.
“Some amount was appropriated in the 2013 budget but before NPA can commit funds, we have to be sure of the availability of their own fund and the verification of claims that they have injected $60 million and they have a balance of $152 million on ground,” he posited.