Home Maritime Digest Negotiations on N43.24bn Ibadan port gets to final stage between Nigeria and...

Negotiations on N43.24bn Ibadan port gets to final stage between Nigeria and China

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The Nigerian Shippers’ Council announced yesterday that Negotiations between the Federal Government and China Railway Construction Corporation Limited (CRCC), the preferred bidder for the construction of the Ibadan Inland Dry Port is nearing completion.

The Shippers’ Council being the guarantor to the concession of the proposed 80,000 twenty-foot equivalent unit capacity dry port to be built on the basis of public-private partnership agreement described this as a major milestone,.

Rakiya Zubairu, the Head, Public Relations Nigerian Shippers Council noted that on completion, the facility would help address the problem of port congestion and gridlock in Apapa, Lagos.
The council said the Ibadan facility would be designated a port of destination where cargo would be consolidated for import and export, especially in the south-western part of Nigeria.
“Among other uses, the dry port will provide a competitive cargo sorting centre, bulk breaking as well as cargo-tracking and truck management services,” Zubairu said.

“This project, which has been estimated at $94m (N43.24bn), will boost employment in Oyo State and other cities in the environs. The Lagos-Kano standard gauge railway, currently under construction, was aligned to the proposed dry port, making it easy to convey cargo from the seaports in Lagos and to all destinations along the route.

Ibadan-Dry-Port

“Having concluded this stage, an updated full business case compliance report will be produced. A draft agreement will be presented to the Federal Ministry of Justice and sent to the Infrastructure Concession Regulatory Commission for vetting.
“After that, the Minister of Transportation will present the agreement to the Federal Executive Council. The concessionaire will then be taken to the site for sod-turning. It is expected that construction will commence immediately after the ceremony. The timeline for completion is 12 months.”

The council noted that the negotiations were moderated by the Federal Ministry of Transportation led by the acting Permanent Secretary and the Director, Maritime Services, Auwalu Suleiman. Other persons involved in the negotiations include the Director-General, ICRC, Chidi Izuwa, and a representative of the Federal Ministry of Finance, Jummai Katagum. The four-day negotiations also had the Secretary to Government of Oyo State, Olubamiwo Adeosun, in attendance, while the CRCC was led by its Deputy Managing Director, Jacques Liao.