FG Approves Onitsha River Port Concession For 30 Yrs
The Federal Government (FG) has approved the concession of the Onitsha River Port for 30 years.
A statement by Infrastructure Concession Regulatory Commission (ICRC) disclosed this shortly after the Federal Executive Council (FEC), adding that the concession was approved under a Rehabilitate-Operate and Transfer (ROT) arrangement.
In his statement, the Head, Media and Publicity, Manji Yarling, said the Port will serve as an alternative source of transporting goods to the South East from Lagos, Port Harcourt and other areas with adequate water connectivity, citing that it is one of Nigeria’s four river ports
Ports under it include Lokoja, Kogi State; Baro in Niger State and Oguta in Imo State.
“The Onitsha River Port was officially opened over three decades ago but has been neglected and not being optimally utilised.
“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 statement said.
The Onitsha River Port is concessioned to Inversal Elysium Consortium company.
There is the belief that Concession of the Port would create employments for teeming youths of Nigeria and generate revenues.