FG To Generate N50bn From 30-Year Onitsha River Port concession.

The Infrastructure Concession Regulatory Commission (ICRC) has said that the Onitsha River Port concession which is to serve as an alternative source of transporting goods to the South East from Lagos, Port Harcourt and other areas with adequate water connectivity, will generate N50 billion in 30 years.

The Onitsha River Port, officially opened over three (3) decades ago is to operate under a Rehabiltate-Operate and Transfer arrangement was approved by the Federal Executive Council after detailed process under the regulatory guidance of Infrastructure Concession Regulatory Commission (ICRC).

The Onitsha River Port is one of the 4 River Ports in the country with others situated in Lokoja, Kogi State; Baro in Niger State and Oguta in Imo State.

According to the statement, “This concession is part of the bigger Federal Government’s plan to concession the remaining river ports and enhance inland waterways transportation in the country.

“The 30-year concession is expected to generate over N50 billion to the Federal Government and create thousands of direct and indirect jobs, while facilitating more efficient trade within the country through cheaper, easier and cleaner method of transporting goods and services.”

“The Port is equipped to deal with general cargo such as containers, bulk cargo and other packaged freight. The Port has a land area of over 12 Hectares.”

“The wharf is 324 meters long with a further provision for additional expansion of 234 meters. The Port also has facilities such as storage workshops and parking areas to cater for operations.”

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