The Federal Government of Nigeria has announced that the $1.1 billion required for the rehabilitation of the country’s ports is almost secured.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, made the announcement in Apapa, Lagos State, during the presentation and inauguration of seven security patrol boats by the Nigerian Ports Authority.
Last November, the Nigerian Ports Authority disclosed plans to allocate over $800 million for the rehabilitation of all ports in Nigeria within the first quarter of 2024, as reported by the
According to the Managing Director of NPA, Mr. Mohammed Bello-Koko, during a panel session at the 43rd Annual Council Meeting of the Port Management Association of West and Central Africa in Lagos, nearly all ports in Nigeria require rehabilitation, and NPA is initiating a substantial overhaul, starting with the Tincan Island and Apapa Ports in Lagos.
Oyetola emphasized the need to modernize the ports to meet global standards, stating, “Again we are modernizing the ports, we want to be able to compete with any port in the world. We want the vessels’ turnaround time to be reduced and I think deliberately, we are doing that.”
“We need to commend the President. The fund for the rehabilitation of the ports is almost ready, and we are going to commence the rehabilitation any time soon,” Oyetola added.
The former governor of Osun State also commended the NPA for acquiring the security patrol boats, emphasizing the importance of maritime security and safety for realizing the full potential of the blue economy.
In his remarks, Bello-Koko highlighted the agency’s commitment to continuous improvement in transforming the strategic intent of becoming the maritime logistics hub for sustainable port services in Africa.
“Enhanced maritime safety, security, and compliance to globally acceptable standards are one of NPA’s deliverables under the presidential priorities of the Federal Government of Nigeria,” he stated.
