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Home Business News

Lagos partners private sector to build commercial container storage facility

Chike Olisah by Chike Olisah
October 26, 2021
in Business News
Container shipping operations from China to Onitsha resume
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The Lagos State Government, in a bid to solve the traffic congestion caused by container carrying trucks, is through the Office of Public-Private Partnerships (PPP), partnering with Messrs. Mainland Freight Agency Ltd, to develop a commercial storage facility at Mile 2, Amuwo-Odofin area of the State.

This disclosure is contained in a statement signed by the Director-General, Office of Public-Private Partnerships, Mr Ope George, who said the commercial cargo facility at the Mile 2 jetty will be constructed on State land measuring 6,400 square meters and operated on a Build, Operate and Transfer (BOT) basis for ten years.

George stated that the facility, which will be solely financed by Messrs. Mainland Freight Ltd, would have the capacity to accommodate a minimum of 200 containers at any given time.

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The government explained that the project will help to decongest traffic caused by container carrying trucks on Lagos roads and also help reduce the dangerous gases emanating from the vehicles.

The Director-General described the proposed project as a catalyst that would stimulate the economy of the State and create many direct and indirect employment opportunities while enabling the diversion of up to 24,000 units of containers from road transportation to the sea through barge services.

He restated the commitment of the Lagos State Government to the provision of public infrastructure using the public-private partnership model.

What you should know

  • The Lagos State Government had recently embarked on the development of some waterway projects to boost water transportation and reduce road traffic gridlock in the state.
  • Several of such developmental projects which were put in place to assist the waterways transportation system since the inauguration of the LASWA Act in 2008 include the Ijegun-Egba Jetty, Ebute-Ojo ferry terminal and Badore Ferry Jetty to mention a few.
  • The state government had consistently expressed its desire to invest in the water transport sector to ensure that its services are viable and effective options to road transportation
Tags: Lagos State GovernmentMessrs. Mainland Freight Agency LtdPPPPublic Private Partnerships
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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