Onitsha River Port to Generate N50bn – ICR
By Joseph Amah, Abuja
The Infrastructure Concession Regulatory Commission (ICRC) has said that the 30-year concession of Onitsha River Port approved on Wednesday by the Federal Executive Council, under a Rehabilitate-Operate and Transfer (ROT) arrangement, targets a revenue generation of N50 billion.
ICRC also said the port would serve as an alternative source of transporting goods to the South East from Lagos, Port Harcourt and other areas with adequate water connectivity.
The approval followed a detailed process under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC) which commenced in 2011 with support from the World Bank, according to a statement by the Acting Head, Media and Publicity, ICRC, Mr. Manji Yarling.
The Onitsha River Port was officially opened over three decades ago but has been neglected and not been optimally utilised.
The port is one of the four inland ports in the country with others situated in Lokoja, Kogi State; Baro in Niger State and Oguta in Imo State.
Yarling 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 cheaper, easier and cleaner methods of transporting goods and services.”
“The Port is equipped to deal with general cargo such as containers, bulk cargo and other packaged freight. The Port has a land area of over 12 Hectares.”
“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.”