News / MegaProject 187: Nigeria to develop seven port projects

MegaProject 187: Nigeria to develop seven port projects

🕔 March 12, 2014

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The Nigerian Federal Government has plans to build seven new deep seaports across the country with the combined efforts of the Nigerian Ports Authority (NPA), state governments and the private investors under the public-private partnership model.

The Federal Executive Council (FEC) has already granted its approval for the development of the proposed Lekki Deep Seaport.

According to Idris Umar, Minister of Transport, Nigeria's Steering and Project Delivery Committee has submitted its draft report and the transaction adviser has also produced the initial due diligence report as well as the outline business case for the Ibaka seaport.

He further said that the Federal Ministry of Transport, NPA and Bayelsa State government are collaborating to develop Agge deep seaport in the state. The state government has apparently hired a consultant, who has concluded the necessary studies for the development of the port.

The Minister also said that discussion is ongoing between the Federal Ministry of Transport, NPA, Lagos State government and private investors to develop a deep seaport in Badagry area of Lagos.

He added that discussions are being initiated with the Ogun and Ondo state governments and private investors to develop the Olokola deep seaport.

In addition, the contract for the establishment of a port at Ogidigbe near Escravos as part of the Gas Industrial Park with Free Zone Status is awaiting the approval of the Federal Executive Council.

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