Govt okays N1.46bn for ports’ projects

port110 October 2013, Abuja – To ensure safety at the ports, the Federal Government has approved $3.5 million (about N560 million) for the construction of 100 pieces of channel marking buoys in them.

The government also approved N900 million for land reclamation. The benefiting ports are in Lagos, Warri (Delta State), Port Harcourt (Rivers) and Calabar (Cross River).

Transport Minister Senator Umar Idris told reporters after the weekly Federal Executive Council (FEC) meeting in Abuja yesterday that the job, which will be handled by Messrs Marina Energy Ltd, would be completed in 25 months.

The briefing, which was coordinated by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, was attended by Ministers of Petroleum Resources Mrs Diezani Alison-Madueke, Trade and Investment Dr Olusegun Aganga, Minister of State for Finance Yerima Ngama and Health Prof Onyebuchi Chukwu.

The buoys, he said, would help to delineate the channels leading to the ports and also enhance safe navigation.

Idris said land was being reclaimed at Obang-Iju-Ibiro-Oba-Ojinba-Okujagu-Ama waterfront, a job for which N7.9 billion was approved last year, to make it navigable.

He said: “However, because of compelling needs and of course the need to enhance the work added to the recommendation by the consultants for additional work and the need to reclaim additional hectares and in some areas to put in more reinforcement on the project, the Council approved the augmentation in the sum of N900 million.”

Aganga said Nissan had shown interest to partner with a local company, Stallion Group, to manufacture vehicles in Nigeria.

Mrs Alison-Madueke said the International Finance Corporation (IFC) had decided to support Nigeria’s gas pipeline infrastructure, adding: “The IFC made a great point of commending Mr. President highly for his power privatisation programme. As the chief executive officer said, it has been one of the most successful that they have seen in the world. And being the world’s super national infrastructure financing organisation, we took this commendation very seriously.”

Ngama said the Islamic Development Bank (IDB) had budged $2 billion for investment in Nigeria.

The government, he said, would organise a summit for the new owners of the sold power companies and some interested financial institutions, adding: “To further reap the benefit of our successful privatisation of our distribution companies (Discos) and generation companies (Gencos), it became apparent that those private owners need to be assisted, not only them also all other companies that bought privatised institutions and those that have concessions as well as those that are involved in public private partnership (PPP).”

– The Nation

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