Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » World Bank budgets N12.2bn to clear Apapa gridlock

    World Bank budgets N12.2bn to clear Apapa gridlock

    November 25, 2016
    Share
    Facebook Twitter LinkedIn WhatsApp
    Apapa-Oshodi-traffic
    Apapa-Oshodi traffic gridlock

    25  November 2016, Lagos – The World Bank is to support Nigeria’s maritime sector with N12.2bn ($40m) to help clear the traffic congestion that characterises most roads around the Nigerian Ports Authority in Apapa, Lagos, the Nigerian Shippers Council has said.

    According to the NSC, the National Freight Information and Transport Hub, an arm of the World Bank, is working with the NPA on how the funds will be used to clear the trucks and tankers that cause heavy gridlock at Apapa, Orile, Tin Can Island and other areas around the Lagos port complex.

    The Executive Secretary, NSC, Mr. Hassan Bello, told journalists in Abuja during a press briefing that the move was aimed at making the NPA more efficient, adding that it would also ensure that oil pipelines were used to transport petroleum products instead of tankers.

    He said, “No matter how efficient the terminal is, if you don’t have the road to evacuate cargo, how will you move your goods out of the ports? So, there must be an intervention and in that regard, the NSC has introduced the NAFITH to the NPA. Now, the NAFITH, an international finance corporation and an arm of the World Bank, is bringing $40m to put an end to the traffic situation in Apapa.

    “The fund is meant to improve logistics around the Apapa, Tin Can and Orile areas for every time there are over 5,000 trucks on that axis. But what are they doing there? What we need is about 1,500 trucks in that Apapa vicinity logistically, but you find about 5,000. So, what are the other 3,500 trucks doing? They are doing nothing!

    “So the idea is to have an electronic passage where a truck is in Apapa only when it is needed to pick or drop cargo. The tankers too don’t need to be there for the pipelines will do the transportation of products. The moment we have the pipelines pumping to Mosimi and other flow stations, then we don’t need the tankers in Apapa. So, all these things are what the World Bank is coming to do in order to solve, once and for all, the gridlock in Apapa.”
    Bello noted that maritime sector was a formidable source for the diversification of the Nigerian economy.
    – Punch

    Related News

    Nigeria rallies economic team to counter US 14% tariff threat

    Gov Eno bets big on economic revival beyond crude oil 

    Gov Eno bets big on economic revival beyond crude oil

    E-book
    Resilience Exhibition

    Latest News

    Libya becomes a full participating state and shareholder of Afreximbank

    May 31, 2025

    NUPRC welcomes ENSERV, emphasises strategic collaboration 

    May 31, 2025

    Natural gas bulls should bemoan Indonesia’s coal export blues

    May 31, 2025

    Russia’s Gazprom says Q1 net profit edges up to $8.4 billion

    May 31, 2025

    Saudi Aramco could tap debt markets again after $5 billion bond sale

    May 31, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.