Article summary
- NPA says it is ready to provide the requisite technical guidance for the establishment of new ports in line with global best practices.
- They added that they are creating an enabling atmosphere for the construction of more deep seaports, as the Ondo State project comes to fruition.
- Ondo Port is expected to play a role of utmost importance and contribute significantly to the development of the economy of Ondo State and neighbouring states such as Ekiti.
The Nigerian government announced it is about to grant approval for the construction of a $1 billion multipurpose deep seaport in Ondo State.
This was disclosed on Thursday by Mr. Mohammed Bello-Koko, Managing Director of the Nigerian Ports Authority (NPA), in a meeting with the Ondo State Coordinator for Special Projects, Mr. Boye Oyewumi, to submit the full business case for the port.
The NPA chief noted that the port, just like the recently commissioned Lekki Deep Seaport, would be funded through a public-private partnership model.
Ondo Port
Bello-Koko said the NPA would work with the Federal Ministry of Transportation and other relevant agencies to obtain approvals to enable the port to begin operations through a public-private partnership.
He assured that all necessary approval would be granted for the port to be located on the coasts of Ondo State, adding:
- “The NPA has consistently restated its readiness to provide requisite technical guidance for the establishment of new ports in line with global best practices.
- “In keeping with NPA’s commitment to creating an enabling atmosphere for the construction of more deep seaports, the Ondo State project will come to fruition.”
What you should know
Despite being in the same geographic region as Lagos State, which already contains functioning ports, the Ondo Port is expected to service areas of the Southwest that are geographically far from the coasts of Lagos but closer to Ondo.
In November of last year, the Governor of Ekiti State, Biodun Oyebanji, said the port would be of immense benefit to Ekiti State, which is landlocked, he said:
- “A significant ratio of Nigeria’s imports and exports rely on the maritime sector. Ports are the epicenter of the blue economy, including transportation of humans and goods, exports, and imports.
- “Tourism and leisure, fishing, aquaculture, and more recent developments like offshore renewable energy, among others.
- “Thus, Ondo Port is expected to play a role of utmost importance and contribute significantly to the development of the economy of Ondo State and neighbouring states such as Ekiti.
- “Hence, the establishment of a seaport in Ondo State will be of immense benefit to Ekiti. The importance of the proposed port becomes even clearer when one considers the fact that Ekiti is a landlocked state.
- “Many investment potentials are expected to emerge, and economic benefits are expected to be derived from the establishment of the Ondo seaport.”
He added that the port will also improve the economics of production and distribution for corporations in Ondo State and Ekiti and the general well-being of the two states.
