Maritime
Minister Hails Approval Of Ondo Seaport
Following the Federal Government’s approval of Ondo Seaport, Minister of State for Transportation, Mr Ademola Adegoroye, has expressed happiness and better years ahead.
The approval was announced after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the Presidential Villa.
The Minister’s expression was contained in a statement issued in Akure, by his Special Assistant on Media and Publicity, Mr Ebenezer Adeniyan, and made available to newsmen.
Adegoroye, who hails from Ondo State, said he feels fulfilled that the Port licence has become a reality.
He said the Ondo Port would cost the private developers the sum of $1,480,465,253 and would be concessioned for a period of 50 years.
On the license, Adegoroye said: “I was graciously appointed Minister by President Buhari about 10 months ago, precisely July 6, 2022.
“My Governor, Elder brother and Leader, Arakunrin Rotimi Akeredolu, gave me one major task. He told me that Ondo State was sending me to Abuja not to make money or facilitate contracts, but simply to get the Federal Government to approve our port and get the port licence.
“On my own, I added the reconstruction of Akure-Ado Road to my task list. I feel fulfilled today that I have delivered on my mandate. God is good.
“I thank God and I appreciate Mr President and members of FEC in particular, my colleague and senior minister in my ministry, Muazu Jaji Sambo, for helping me achieve this feat. I am fulfilled.
“The accruals to the concessionaire and the Federal Government are expected to be $50 billion and $2.6billion, respectively”, he said.
According to him, the projects, which are to be executed through Public-Private Partnership (PPP) arrangements at no cost to the Federal Government, will be financed by the Private firms and to be operated for 45 to 50 years.