The negotiation between the Nigerian government and China Railway Construction Corporation, the preferred bidder for the construction of the N43.2bn Ibadan Inland Dry Port, is near completion.
Nigerian Shippers’ Council is the guarantor to the concession, an 80,000TEU capacity dry port to be built on Public Private Partnership agreement in Ibadan, Oyo State.
On completion, the facility is expected to help address the problem of port congestion and gridlock in Apapa, Lagos State, as it will be a port of destination where cargo will be consolidated for import and export, especially in South West Nigeria.
Head, Public Relations of NSC, Rakiya Zubairu, told Financial Street that, among other uses, the dry port would provide a competitive cargo sorting centre, bulk breaking as well as cargo tracking and truck management services.
The project estimated by NSC to cost $94m (about N43.24bn) will boost employment in Oyo and environs.
The council’s spokesperson also said the Lagos/Kano standard gauge railway under construction was aligned to the proposed dry port, making it easy to convey cargo from the seaports in Lagos and to all destinations along the route.
“The negotiations emphasised the utilisation of local content at each stage of development and operation of the facility.
“Having concluded this stage, an Updated Full Business Case Compliance report will be produced. A draft agreement will be presented to the Federal Ministry of Justice and sent to the Infrastructure Concession Regulatory Commission for vetting, after which the Minister of Transportation will present the agreement to the Federal Executive Council. The concessionaire will then be taken to the site for sod turning. It is expected that construction will commence immediately after the ceremony. The timeline for completion is 12 months,” said Zubairu.
The negotiation was moderated by the Federal Ministry Of Transportation led by the acting Permanent Secretary, Dr. Hussani Adamu; the Director, Maritime Services, Auwalu Suleiman; and the Director-General of ICRC, Chidi Izuwa.
Amb. Jummai Katagum, who represented the Federal Ministry of Finance, was also part of the four-day negotiation.
Also present was the Secretary to Government of Oyo State Mrs. Olubamiwo Adeosun.
CRCC was led by the Deputy Managing Director, Jacques Liao.
Expressing satisfaction with the proceedings, the CEO of NSC, Hassan Bello, disclosed that all parties expressed firm commitment to the actualisation of the project.
The transaction advisors, Aminu Dikko and Mohammed Kumalia, facilitated the meeting.
