NSC moves to attract investors, funding for proposed dry port projects

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Concerned over the slow pace of work at the sites of the proposed Inland Dry Port (IDP) projects, the Nigerian Shippers Council (NSC) has moved to assist concessionaires of the ports in attracting investors as well as the needed funding for the projects.

Inland Dry Port, also known as Inland Container Depots (ICDs), is a Federal Government’s Public Private Partnership (PPP) project, to be situated across the six geo-political zones of the country in Kano; Jos, Plateau State; Isiala Ngwa, Abia State; Borno, Maiduguri; Kaduna and Ibadan.

Concessionaires of these six ports include Duncan Maritime Ltd – Jos; Eastgate Inland Container Terminal Ltd – Isiala Ngwa, Abia State; Dala Inland Dry Port – Kano; Migfor Nigeria Ltd – Maiduguri; Catamaran Logistics Ltd – Ibadan and Equitorial Marine Ltd – Funtua.

BusinessDay understands that apart from the Kaduna IDP which has taken off since January 2018, the rest are being delayed due to lack of funding for project execution.

To facilitate the completion of these projects, Shippers Council has approached the Commonwealth Enterprise Investment Council (CWEIC) to be involved in the search for interested investors for the IDP projects.

It was gathered that Hassan Bello, executive secretary of NSC, has already visited the London office of the body, which was established in 2014 with the mandate of promoting intra-commonwealth trade and investments across the 53 member countries.

Bello also led the management team of the Council to attend the Advisory Council Meeting of CWEIC held recently in Lagos during which a lot of business opportunities across and beyond Nigerian were laid bare.

According to the Council, the aim was to attract investors from other Commonwealth countries to show interest in the IDP projects in order to achieve speedy completion.

Apart from IDP projects, the Council … Read More...