NPA Needs N369bn To Renovate Tin Can, Apapa, Calabar, Other Ports– MD

Nigeria’s major ports are on the brink of collapse and the Nigerian Ports Authority said $800m or N368.7bn is needed to rehabilitate the ports.

Mohammed Bello-Koko, the Managing Director of the NPA made the disclosure during an interview on Channels Tv.

Bello-Koko said the ports will collapse in a few years if they are left without renovation.

He said, “The port of Tin Can is collapsing, it is not an imminent collapse, but in the next few years, if nothing is done there will be problems.

“We have been managing it and doing palliative and other jobs but it is time we rehabilitate it, we also need to rehabilitate some parts of Apapa.

“We need to reconstruct the ‘breakwaters’ in Escarvos, it has collapsed for over ten years, and there is a collapse jetty in Calabar, Warri, Rivers and Onne.

“There is no port that does not need reconstruction of some of its facilities, our estimates are between $560 to $800 million.

“Now that gap is because if we decide to leave Apapa till much later, we do not need up to $800 million, but if you need to reconstruct Tin Can as we are reconstructing other places, we need that amount.”

He further revealed that revenue generated from ports surged last year to N361n.

The NPA boss believes that the ports would generate more revenue by the end of 2023.

Bello-Koko said, “We have increased our revenue from N250bn or N300bn to now N361bn. Our contributions to Consolidated Revenue Fund (CRF) have increased to N91bn. I believe this year we should do far better than that.”