The Managing Director of the Nigerian Ports Authority, Mohammed Bello‑Koko, explained why the agency may spend up to $800 million on reconstructing several of the country’s seaports. In an interview with Channels Television over the weekend, he said that if the authority chose not to rebuild Apapa Port, the cost would be lower than $800 million. However, he emphasized that other ports also require reconstruction, which drives the higher estimate.
Bello‑Koko noted that the agency’s revenue has risen from N260 billion to N361 billion, and its contribution to the Consolidated Revenue Fund has increased to N91 billion. “Our current estimate is between $560 million and $800 million,” he said. “If we postpone work at Apapa, we would not need $800 million, but we still need to rebuild Tin Can and other sites, which brings the total to about $800 million.”
He warned that, although there is no immediate risk of collapse, the ports could face serious problems in the coming years if no action is taken. “The Tin Can port is deteriorating. There is no imminent collapse, but if nothing is done in the next few years, problems will arise,” he explained. “We have been managing it with temporary measures, but it is time to rehabilitate Tin Can and parts of Apapa, as well as reconstruct the breakwaters in Escravos, which have been collapsed for over ten years.”
Comments are closed for this story.