The administration of President Bola Ahmed Tinubu has acknowledged that it is attempting to enlist terminal operators for the renovation of the $800 million (or roughly N593 billion) ports of Apapa, Tincan, and other locations.
The Federal Government expressed sadness that the ports were crumbling and said that it was crucial to restore them because doing so would increase revenue.
Adegboyega Oyetola, Minister of Marine and Blue Economy, said this on Monday while being guided by Muhammed Bello-Koko, Managing Director of the Nigerian Ports Authority, and his management team on a familiarisation visit to Apapa and Tincan Island ports.
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AP Muller Terminal, ENL, Dangote, Greenville Development Nigeria Limited, ABTL, NPA Dockyard, Josephdam, Ports &Terminal Multipurpose Limited, and Port & Terminal Multipurpose Limited, among others are a few of the terminals that have been visited.
Recall that Bello-Koko stated in April that the agency may spend up to $800 million on the renovation of several of the nation’s seaports.
Oyetola, however, stated that the port was on the verge of collapsing on Monday and that the reconstruction will start shortly.
“The port is almost collapsing, a major rehabilitation has to be carried out, and that is perhaps the major thing. Am looking forward to a situation whereby the terminal managers would be willing to contribute towards the rehabilitation of the ports, it is important. If you do that, you are going to make more money,” the Minister noted.
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