Shippers Council set to pen N43.24bn Ibadan dry port project

A major milestone is being witnessed as the negotiation meeting between the Federal Government and CRCC, the preferred bidders for the construction of the Ibadan Inland Dry Port, is nearing completion.

Nigerian Shippers’ Council (NSC), which is the guarantor to the concession of the 80,000 TEU capacity dry port to be built on the basis of Public Private Partnership agreement in Ibadan, the Oyo State capital, said the “negotiations will be concluded soon”.

On completion, the facility is expected to contribute to addressing the problem of port congestion and traffic gridlock in Apapa, as it will be designated a port of destination where cargo will be consolidated for import and export, especially in the South-Western part of Nigeria.

NSC’s spokesperson, Rakiya Zubairu, said on completion, the dry port would also provide a competitive cargo sorting centre, bulk breaking as well as cargo-tracking and truck management services. She said this project, estimated at $94,000,000.00 (N43.2 billion), would boost employment in Oyo State and other cities in the environs.

The Lagos-Kano standard gauge railway currently under construction is 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, Zubair said: “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 (ICRC), 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 time-line for completion is 12 months,”

The Executive Secretary, NSC, Hassan Bello, expressed satisfaction with the proceedings, adding that all parties expressed firm commitment to the actualization of the project.

The 4-day negotiation was moderated by the Federal Ministry of Transportation, led by the acting Permanent Secretary, and the Director, Maritime Services, Auwalu Suleiman, the Director-General of ICRC, Chidi Izuwa; and Amb. Jummai Katagum, who represented the Federal Ministry of Finance. Also present were the Secretary to the Government of Oyo State Mrs. Olubamiwo Adeosun, while the preferred bidder CRCC was led by Deputy Managing Director, Jacques Liao.