FG Targets N50bn Onitsha River Port Revenue – ICRC

• Eyes Lagos connectivity to South-East, PH, others

BY COBHAM NSA – The Infrastructure Concession Regulatory Commission (ICRC) says the 30-year concession for the Onitsha River Port is targeting a 50 billion Naira revenue while serving as an alternative source of transporting goods to the South East from Lagos.

According to the Commission, the project, approved by the Federal Executive Council (FEC), under a Rehabilitate-Operate and Transfer (ROT) arrangement, will also aid transportation to Port Harcourt and other areas with adequate water connectivity.

ICRC’s Acting Head of Media and Publicity, Manji Yarling said in a statement that the approval followed a detailed process under the Commission’s regulatory guidance which commenced in 2011 with support from the World Bank.

The statement said; “This concession is part of the bigger Federal Government’s plan to concession the remaining river ports and enhance inland waterways transportation in the country.

“The 30-year concession is expected to generate over N50 billion to the Federal Government and create thousands of direct and indirect jobs while facilitating more efficient trade within the country through the cheaper, easier and cleaner method of transporting goods and services.”

Additionally, the statement explained that the Port, with a land area of over 12 Hectares, “is equipped to deal with general cargo such as containers, bulk cargo, and other packaged freight.

“The wharf is 324 meters long with a further provision for additional expansion of 234 meters. The Port also has facilities such as storage workshops and parking areas to cater for operations.”

Officially opened over three decades ago, the Onitsha River Port has not only been neglected but is also yet to be optimally utilized by the government and other stakeholders.

It is one of the four (4) River Ports in the country with others located in Lokoja, Kogi State; Baro in Niger State and Oguta in Imo State.