FG To Generate N23 Billion In 30 Years From Concession Of Onitsha Port

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The Federal Government has signed a deal for the concession of the Onitsha port with the Universal Elysium Consortium. Therefore, stating that the concession will generate over N23 billion in 30 years.

Minister of State disclosed this for Transportation, Sen. Gbemisola Saraki, during the signing of the concession of the port on Thursday in Abuja, according to NAN.

The FG added that the port will bring economic benefits to Nigeria, and ensure 60% of shipped cargoes. Which goes through Onne port to Onitsha transport it directly.

The Minister also disclosed that the Baro, Lokoja and Oguta ports, which are at different stages of completion, will consider after the Onitsha port. Citing that the most important thing is that the FG already has interest from potential investors who want to take over.

The Managing Director, the National Inland Waterways Authority, (NIWA) Dr. George Moghalu, said ”Over 60% of the containers that arrive Nigeria through Onne. However, Tin Can or Apapa port ends up in Onitsha and what it translates is that these containers moved by trailers.

-Nairametrics.

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