The Infrastructure Concession Regulatory Commission (ICRC) says the federal government will generate over N50 billion from the 30-year concession of the Onitsha River Port.
In a statement on Thursday, Manji Yarling, acting head, media and publicity, ICRC, said the federal executive council (FEC) gave approval for the concession on Wednesday.
According to her, the port will serve as an alternative source of transporting goods to the southeast from Lagos, Port Harcourt and other areas with adequate water connectivity.
– The Cable