Nigeria studies Business Cases for six port projects

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Nigeria studies Business Cases for six port projects

The Minister of Transport, Senator Idris Umar, has announced that the Nigerian Federal Government has concluded arrangements to develop six new deep seaports in Nigeria through Public Private Partnership (PPP) projects.

The ports to be developed are the following:

  • The Lekki Deep Seaport in Lekki, Lagos;
  • Ibaka seaport in Akwa Ibom State;
  • Badagry deep seaport in Lagos;
  • Olokola deep seaport in Ogun and Ondo States.
  • Agge deep seaport in Bayelsa State; and
  • Ogidigbe seaport, near Escravos in Delta State

Mr Umar expleined that the draft business outline case for the propose six deep seaports has been submitted to government for transaction approval after which advertisement will be made for prospective investor.

He also announced that President Goodluck Jonathan had approved the appointment of the Nigerian Shippers' Council (NSC) as the interim economic regulator of the Nigerian ports pending the passage of the relevant legislation.

Mr Umar stated:

The appointment of the interim economic regulator was done with clear objectives which government hopes would be achieved both in the short and long terms frame, aimed at making Nigeria the hub of international freight and trade in West Africa.

In mid March we reported that the Nigerian Federal Government had plans to build six 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.

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