Weak and faulty infrastructure within the nation’s ports has been identified by Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority, as the root cause of their inadequate performance.
In Abuja on Thursday, during the defense of the agency’s 2024 budget estimates, the head of the Nigerian Ports Authority (NPA) made these remarks.
He disclosed that the Nigerian Ports Authority (NPA) anticipates generating approximately N629.89 billion in revenue for the year 2024, alongside seeking a N200 billion loan from Afrexim Bank and the United Kingdom Export Finance.
He listed the defects to include “The quay wall, replacement of old gravity walls, and the rehabilitation of Escravos breakwaters.”
He said, “The total projected expenditure is N464.32 bn, while the operating expenses are projected at N212.03 bn, and the capital expenditure stands at N252.29 bn.
“Part of the main thrust of the 2024 budget of the NPA is the urgent need to rehabilitate, reconstruct, and moderate the dilapidated port infrastructure.”
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The budget, he added, is targeted at improving port efficiency and increasing cargo traffic through investment funding from the financiers, UKEF and Afriexim.
Nnolin Nnaji, Chairman of the House Committee on Ports and Harbours, underscored the importance of the Nigerian Ports Authority (NPA) to the Federal Government, stating the committee’s intention to conduct site visits to facilities beyond Lagos State.
He said: “We need to see those things you are telling us. The House of Representatives is very serious about budget defence, while they do screening on the other side.
“I believe in the subsequent budget, the MD would do better. We accept this budget, and we will move further with it.”
In addition, the committee drew attention to the congestion of wreckage in drainage channels and expressed dismay at the dearth of information regarding the management of debris removal.
The committee stressed that as long as the NPA neglects the wreckage issue, it will continue to recur due to the presence of abandoned ships, urging the agency to tackle the problem promptly.