Maritime
NPA Shops For $800m To Rehabilitate 4 Ports
The Nigeria Ports Author ity (NPA) says its proposed rehabilitation of four Ports in the country will gulp $800 million, its Managing Director (MD), Mr. Mohammed Bello-Koko, has said.
The Ports, according to him, are Tin Can Island Port and Apapa Port in Lagos, Onne Port in Rivers State, rehabilitation of the Escravos breakwaters in Warri Port, and the Calabar Port in Cross River State.
Bello-Koko disclosed this while speaking at the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 Regional meeting which held recently in Germany, with the Vice-President of both regions, Jens Meier (Europe) and Micheal Luguje (Africa), hosting IAPH members CEO’s to a top level discussions.
According to the NPA boss, the $800 million loan facility will be repayable in a seven- year period once secured.
According to him,” NPA would have opted to fund the project, but that will reduce its contribution to the Consolidated Revenue Fund (CRF).
“The rehabilitation would help in achieving the digitalization of all ports in Nigeria as port rehabilitation and remedial works are no more effective. These ports need total rehabilitation”, he stated.
By; Nkpemenyie Mcdominic, Lagos
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