Nigeria Needs $800m to Rehabilitate Four Major Ports – Bello-Koko
The Managing Director/CEO of Nigerian Ports Authority (NPA), Mohammed Bello Koko has said that Nigeria will need $800 million loan facility for the rehabilitation of four ports in the country.
The ports are Tin Can Island Port, Apapa Port in Lagos, Onne Port in Rivers State, and the Calabar Port in Cross River.
Bello-Koko disclosed this during the International Association of Ports and Harbors (IAPH) Europe and Africa 2023 Regional meeting held recently.
According to the NPA boss, the $800 million loan facility will be repayable in a seven- year period and the rehabilitation would help in achieving the digitalisation of all ports in Nigeria.
“The rehabilitation of Tin Can Island Port in Lagos, Apapa Port in Lagos, Onne Port in Rivers State, Calabar Port in Cross River will cost $800 million.
“The loan is repayable in a seven-year period, and this will help in the achieving the digitalization of all ports in Nigeria,’’ Bello-Koko stated.
He also stressed on the impact of the collaboration between the government and private sector and the gains to the Nigerian ports.
He stated that collaboration gave birth to the Lekki Deep Sea Port, Nigeria’s deepest seaport with an initial depth of 16.5m, noting that after the completion of the third phase the depth will be 20.5m.
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The President of Maritime Street, Pascal Ollivier, in his speech at the occasion, said to deeply engage in digitalization key five aspects needs to be prioritized; legal framework, coordinated border management, principles of data collection, change management and long-term financial plan.
Ollivier disclosed that the World Bank and the International Maritime Organization with other agencies are teaming up to see to the full actualisation of a digital African Port.
Jens Meier, the Vice-President, IAPH Europe, thanked attendees for contributing meaningfully to the session and promised the continuous collaboration between Europe and Africa which he said will be strengthened to achieve the digital port goal in Africa.
