How Onitsha Port Will Generate Over N23 Billion In 30 Years – Minister

The Minister of State for Transport, Gbemisola Sarakisays the Onitsha River port is positioned to generate more than N23 billion for the federal government in 30 years. Ms. Saraki, during the signing of the port concession on Thursday in Abuja, said that the port had many economic benefits for the country. According to her, the port will, among other things, ensure that 60 percent of the cargoes shipped that have so far passed through the port of Onne to Onitsha will be transported directly. “So there is a lot of economic growth, there is going to be a creation of wealth, job creation, security and greater development. “We hope that it will be a catalyst for other river ports, that it will decongest other ports and generate growth. “You know that the traffic on our road, the condition of our roads, and the tankers and cargo moving on our roads are now down. “So, it is a very good thing and we are exceptionally proud that we have finally achieved it,” said Ms. Saraki. According to the minister, the ports of Baro, Lokoja and Oguta, which are at different stages of completion, will be considered after the port of Onitsha. Gbemisola Saraki. [Photo credit: Facebook page of Gbemisola Saraki]“The most important thing is that we already have interest from potential investors who really want to take charge of this.” National Inland Waterways Authority (NIWA) Managing Director George Moghalu said the Onitsha port would reduce the volume of cargo transported via highways to the southeast. Moghalu said: “Our roads are not designed to support the weight they carry. “More than 60 percent of the containers that arrive in Nigeria through the port of Onne, Tin Can or Apapa end up in Onitsha and what translates is that these containers are moved by trailers. “Onitsha Port is very well positioned to play a key role in addressing this if opportunities are provided.” He praised the dealers for their efforts to attract investors to the country. Mr. Moghalu expressed his hope that the concession would open opportunities for other ports in the country to receive due consideration. Meanwhile, Interim Director General of the Infrastructure Concessions Regulatory Commission (ICRC), Michael Ohiani, said the 30-year concession would generate more than N23 billion for the government. He said: “After a rigorous procurement process, Universal Elysium Consortium emerged as the preferred concessionaire for the Onitsha River Port concession. “During the 30-year concession period, the concessionaire will be responsible for all activities and maintenance of the port. “The asset together with all the infrastructure will be returned to the authorities at the end of the concession period. “The redevelopment of the Onitsha river port is seen as a boost for commercial activities in the southeast. “Importers and traders in the trading cities of Onitsha, Nnewi, Aba and Ogbete-Enugu see the relaunch as a positive development from the federal government. “The port will serve as an alternative mode of transporting goods from Lagos and Port Harcourt by road,” he said. (YAYA) Read More Related News Here Let here it in the comment below if you do have an opinion on this; How Onitsha Port Will Generate Over N23 Billion In 30 Years – Minister