Daily Trust

ICRC to revive 6 abandoned dry port projects

- By Chris Agabi

The Infrastruc­ture Concession Regulatory Commission (ICRC) said it would work to revive at least six abandoned dry port projects whose contracts were signed in 2006.

Daily Trust reports that even though these Inland Container Depots (ICD) or dry ports have been concession­ed, only the Kaduna Dry Port been concluded and commission­ed. The six others have been grappling with the inability to raise enough capital to complete them under the watch of the Nigerian Shippers Council (NSC), which is the promoter.

The ICRC held a meeting with the NSC to look at ways of making the dry ports come alive.

The acting DirectorGe­neral of the Commission, Mr. Michael Ohiani, expressed dismay that 16 years after the concession contracts were signed, some of the ICDs were still at five per cent completion, while only two had gotten to 55 per cent and 68 per cent, hence the need for the meeting.

The concession­aires and states where the ports are located include Oyo State (Ibadan) with 50,000 Twenty-foot Equivalent Units (TEUs), by Catamaran Logistics Ltd; Abia State (Isiala Ngwa) with 50,000 TEUs by Eastgate Ltd; Plateau State (Jos) with 20,000 TEUs by Duncan Maritime Nig. Ltd.

The rest are Kano State (Dala) with 20,000 TEUs by Dala Inland Dry Port Ltd.; Katsina State (Funtua) with 10,000 TEUs by Equatorial Marine Oil and Gas Ltd. and Borno State (Maiduguri) with 10,000 TEUs by Migfo Nigeria Ltd.

Based on the last assessment presented to the ICRC by the NSC, the

DG said the percentage progress made by the concession­aires were Oyo State –10%; Abia state – 5%; Plateau State - 29.7%; Kano State– 55%; Katsina State – 68%, and Borno State – 5%.

“We want to rub minds and come up with how we can make progress: what are the challenges, taking into considerat­ion that these projects have already gotten Mr President’s attention and more so, we need to decongest our seaports.

Also when completed, these ICDs will bring the required benefit to our citizens and our country Nigeria,” said Ohiani.

 ?? ?? From left: Executive Commission­er, Operations, Securities and Exchange Commission (SEC), Dayo Obisan; Director General, SEC, Lamido Yuguda; Chief Executive Officer, Nigerian Exchange Limited, Temi Popoola, CFA; Executive Commission­er, Legal and Enforcemen­t Unit, SEC, Reginald Karawusa; and Managing Director, Central Securities Clearing System (CSCS), Haruna JaloWaziri at a strategic meeting with NGX, SEC and other capital market stakeholde­rs in Abuja on Wednesday
From left: Executive Commission­er, Operations, Securities and Exchange Commission (SEC), Dayo Obisan; Director General, SEC, Lamido Yuguda; Chief Executive Officer, Nigerian Exchange Limited, Temi Popoola, CFA; Executive Commission­er, Legal and Enforcemen­t Unit, SEC, Reginald Karawusa; and Managing Director, Central Securities Clearing System (CSCS), Haruna JaloWaziri at a strategic meeting with NGX, SEC and other capital market stakeholde­rs in Abuja on Wednesday

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