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FG approves construction of N43.24bn dry port at Ibadan

 

There is hint that 80,000 twenty Equivalent Units (TEUs) dry port would be constructed at N43.24billiopn ($94million) on the basis of Public Private Partnership (PPP) agreement in Ibadan, Oyo State to ease port congestion in Lagos.

 

 

On completion, it was learnt that the facility would address the problem of port congestion and gridlock in Apapa, Lagos State as it would be designated a port of destination, where cargo could be consolidated for import and export in the South Western part of the country.

 

According to the Nigerian Shippers’ Council (NSC)’s Head, Public Relations, Rakiya Zubairu, the project had been estimated to cost N43,24 billion ($94million), noting that it would boost employment in Oyo State and other cities in it’s environs.

 

Zubairu stressed at the weekend that Lagos-Kano standard gauge railway currently under construction was been aligned to the proposed dry port in order to make it easy to convey cargo from the seaports in Lagos and to all destinations along the route.

 

She added that the preferred bidder of the dry port, CRCC and the council had negotiated on how the project would be executed, stressing that the negotiations emphasised the utilisation of local content at each stage of development and operation of the facility.

 

Having concluded this stage, Zubairu said that an Updated Full Business Case Compliance (UFBCC)report would be produced.

 

 

Already, she explained that the Executive Secretary/CEO of Nigerian Shippers’ Council, Hassan Bello, had expressed satisfaction with the proceedings, noting that all parties had expressed firm commitment to the actualisation of the project.

 

She noted: “A draft agreement will be presented to the Federal Ministry of Justice and sent to the Infrastructure Concession Regulatory Commission, (ICRC)for vetting, after which the Minister of Transportation will present the agreement to the Federal Executive Council. The concessionaire will then be taken to the site for sod-turning. It is expected that construction will commence immediately after the ceremony. The timeline for completion is twelve months.

 

“The negotiation was moderated by the Federal Ministry Of Transportation led by the acting Permanent Secretary and the Director, Maritime Services, Auwalu Suleiman, the Director-General of Infrastructure Concession Regulatory Commission (ICRC), Engr. Chidi Izuwa. Amb. Jummai Katagum who represented the Federal Ministry of Finance was also part of the four days negotiation.”

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