Lagos — THE inability to present bankable projects and proposals are responsible for over 150 projects currently laying fallow and unable to be pursued to logical conclusion for economic growth.
Disclosing this to newsmen weekend, Chairman of Mercury Marine Concession Company, MMCC, Rear Admiral Andrew Okoji, Rtd, said that abandoned projects are not properly packaged adding that this has led to lack of funding for these projects.
Okoji who spoke at the unveiling of plans for the proposed Escravos Seaport Industrial Complex, ESIC, in Lagos also said that when these projects are not bankable, they are just on paper.
He said: “These projects are not properly packaged to be able to be bankable, so if you not bankable, it is just on paper.”
Although, he was silent on the some of the projects affected by this development, Okoji however stated that the funds for the construction for the Escravos Seaport will come from abroad.