Business
FG approves $2 billion for first phase of $4.6 billion Ibom Deep Seaport
The first phase would cost $2.016 billion, and construction up to the completion of the port will create 300,000 jobs in Akwa Ibom.
The Akwa Ibom State Government has disclosed that the first of of the $4.6 billion Ibom Deep Seaport (IDSP) has been approved by the Federal Government.
The first phase would cost $2.016 billion, and construction up to the completion of the port will create 300,000 jobs in Akwa Ibom.
This was disclosed by Mr Akan Okon, the Commissioner for Economic Development and Ibom Deep Seaport, in Uyo on Saturday.
He disclosed that the FEC on December 16th granted the approval for implementation of the first phase of the Ibom Deep Seaport Project in Akwa Ibom.
Okon said that the first phase of Ibom Deep Seaport would help address unemployment in the state, as no fewer than 300,000 youths would be actively engaged through the project.
The Commissioner said the construction of the Seaport will address the issues of rising unemployment in the State and also enable the state implement schemes for job creation and poverty alleviation.
“Akwa Ibom is industrialised because this project, when operational will solve and arrest critical problems in the state most especially the issue of unemployment and then stimulate our state economy accordingly” he said.
“The total cost of construction of the Ibom Deep Seaport is 4.6 billion dollars but the first phase of it is 2.016 billion dollars which was approved on Wednesday Dec. 16 by the Federal Government.
“The structure of Ibom Deep Seaport is billed for 60/40 per cent that is, 60 per cent for the private sector and 40 per cent will go to the public sector.
“The port will increase the revenues of both the Federal Government and Akwa Ibom,” he said.
What you should know
- Nairametrics reported that Rep. Onofiok Luke of Akwa Ibom stated that President Buhari’s approval of the Ibom Deep Seaport project is a step closer to resolving the challenges of gridlock on the Apapa Wharf Road.
- The Ibom Deep Sea Port will be built on a stretch of 14,400ha acquired for the project.
- The Port is a Federal Government project driven by the Nigerian Port Authority & Federal Ministry of Transport, Akwa-Ibom state, with Global Maritime & Port Services PTE Limited as the transaction driver.
- The deep seaport will be for large vessels that can load over 13 thousand containers in one voyage.
Business
Lagos State seeks investors in aquatic and livestock agriculture value chain
The Commissioner revealed that the scheme was in line with the State’s five-year strategic agriculture roadmap.
The Lagos State Government announced it is seeking private sector collaboration for Agriculture sector value chain development in livestock feed mills, fisheries and red meat.
This was disclosed by the State Commissioner for Agriculture, Ms Abisola Olusanya, in a statement on Sunday in Lagos.
The Commissioner revealed that the scheme was in line with the State’s five-year strategic agriculture roadmap, as the State identified the 3 main sectors for value chain disruption.
READ: Lagos goes tough on illegal conversion of land use, enforcement begins in Ikeja GRA, Lekki, others
She also added that investment in the sectors would also develop jobs for the industry and boost the State’s GDP growth, through Private Sector collaboration as Lagos residents consume over N5 trillion worth of food annually.
“The objective is to stimulate and encourage more public-private partnerships in the three value chains,” she said.
“When you consider this pool of transactions happening in Lagos, it shows that we are the market. For instance, we demand over 400,000 metric tons of fish on an annual basis.
“But our fishermen and our aquaculture farmers are only able to produce just about 174,000 metric tons with deficit of 200,000 metric tons,” she added.
READ: CBN invests over N120 billion on 320,000 farmers across CTG within four years
She also disclosed that the state has 9,000 artisanal fishermen, and bringing more youths into the space will increase the level of fish and seafood being harnessed from our water bodies. Looking at the transactional value on an annual basis, the fisheries sector is worth well over N120billion according to her.
In case you missed it: Nigeria exported agricultural products worth N321.5 billion in 2020, representing a 19.16% increase when compared to N269.8 billion recorded in 2019 and a 6.27% increase compared to N302.28 billion recorded in 2018.
Business
#DigitalSkillsTraining: FG announces conclusion of selection process
Only successful applicants that are contacted by the Ministry are to report at the training venue.
1 Comment