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FG to invest N800bn in six ports rehabilitation

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In its bid to reduce the high turnaround times of vessels and improve ports efficiency, the Nigerian Ports Authority (NPA) has outlined plans to invest $1.1 billion in the various ports across the country.

The Mohammed Bello-Koko-led NPA in an X post on Monday, said the rehabilitation process will reduce human interference by ensuring that most of its process are automated.

It said the Federal Government through the NPA will see to the restoration of decayed ports infrastructure at TinCan, Apapa, Rivers, Delta, Calabar and Onne ports.

The post reads: “Due to the decaying quay walls, the Terminal Operators are unable to deploy modern cargo handling equipment such as ship-to-shore cranes This often results in high turn around times of vessels.

“The rehabilitation will include: Tin-Can Island Port Complex (TCIPC)
Reconstruction of 2, 563m Quay Wall & Pavement including other works.

“Lagos Port Complex (Apapa Quays)
Reconstruction of 2,020m Quay wall to replace the old gravity wall (Berths 4-14).

“Warri, Delta State
Rehabilitation of collapsed 8.6 km Escravos Breakwaters, FLT 2, Onne Port
Reconstruction of 200m Quay Wall.

“Warri Old Port (Terminal C) Reconstruction of 80m sheet pile wall structure. Warri Old Port (Terminal A) Reconstruction of 280m quay structure, Calabar Dockyard
Rehabilitation of the Calabar Dockyard.

“Mciver Jetty, Calabar Port Jetty reconstruction, Millero Jetty, Calabar Port Jetty Reconstruction.”

When this is completed, the existing ports will be operational at full capacity and with improved efficiency, thereby reducing the TAT of vessels and cargo dwell times.

Persecondnews recalls that the NPA generated total revenue of N191bn from its operation in the first half of 2023, out of which it remitted N55bn into the Federal Government’s Consolidated Revenue Fund (CRF).

Bello-Koko said in a report that a total of 1,851 vessels visited Nigerian seaport with about 707,985 Twenty-foot Equivalent Units (TEUs) of containers and 33,895,784 metric tons of cargo throughputs in the first half of 2023.

He said with the current trend of shipping volumes, the country has a projection of generating over N500bn in revenue by year end.

 

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