13 February 2018, Sweetcrude, Lagos — The Nigerian Ports Authority, NPA has paid twenty percent, 20% of its equity share, representing $23million of its $110.9million investment in the on-going Lekki Deep seaport project.
Disclosing in Lagos during a monitoring visit to the Lekki port, Director General of the Infrastructural Concession Regulatory Commission, ICRC, Engr Chidi Izuwah said that a total of $150million collected from equity has so far been invested in the $.5billion deep seaport project.
Izuwah also said that a total of 38 permits and approval has been obtained with regards to the project and commended the stakeholders’ commitment to the project.
He said: “The NPA has 20% equity, but has so far paid about $23millionout of the total commitment of $110.9million.
“You have invested a total of about $150milion collected from equity on the project, completed the basic design and currently working on the detailed design.
“I want to especially thank the NPA for the efforts made o for and its commitment towards the success of this project.”
He explained that the ICRC had to visit the project site in line with its mandate to monitor and ensure the efficient execution of all Private Public Partnership, PPP projects entered into by Ministries, Departments and Agencies, MDAs on behalf of the government.
He also said that Commission is the eye of government with respect to PPP adding that it was the desire of the commission yearly visit each PPP projects sites with a view to evaluating the implementation and rub minds with the parties involved to better understand their challenges.
The visit to the project also showed that the construction of the breakwater of the port project has commenced as the total of 100,000 tons of rocks have been moved to the site.
Izuwah said: “This project is very critical to the national economy in terms of diversification, we cannot remain a mono-economy, we need to start exporting goods produced in Nigeria.”