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World Bank rates Nigeria’s port concession model best in Africa

By Sulaimon Salau
20 March 2022   |   4:04 am
The World Bank has adjudged Nigeria’s port concession model the best in Africa.

Mr Mohammed Bello-Koko

NPA Pursues 25-year Port Master Plan
The World Bank has adjudged Nigeria’s port concession model the best in Africa.

A team of experts from the World Bank, Nigeria Office on a working visit to the Nigerian Ports Authority (NPA) headquarters in Lagos, assured that the group would continue to partner Nigeria and other interested countries to develop transport infrastructure and services that are safe, green, efficient and inclusive.

Reacting to the bank’s positive assessment during his meeting with World Bank and International Finance Corporation (IFC) officials, the Managing Director, NPA, Mohammed Bello Koko, stated that the port concession exercise has clearly enhanced Nigeria’s goal of becoming the leading blue economy in Africa.

He added that his administration’s focus is to facilitate a port-led industrialisation in the country through infrastructural renewal and deployment of modern technology tools.

The NPA boss told the delegation from the World Bank led by Olatunji Ahmed and Christian Mulamula, Principal Investment Officer – Infrastructure (IFC), that the NPA duly appreciates the excellent support provided by the World Bank under its Private Participation in Infrastructure (PPI) scheme.

He urged the bank to sustain the support and synergy, especially as the NPA is searching for alternative funding sources to bridge its infrastructure gaps.

Bello-Koko informed the team that the 25-year port master-plan which had earlier suffered some glitches is now back on course, stressing that the port authority would work collaboratively with the bank in the operationalisation of the master-plan.

Earlier in his remarks, Ahmed, a Senior Transport Specialist with the bank, stated that the bank is happy to partner with the NPA and intends to continue to provide assistance to the port authority in its journey towards becoming the preferred destination of cargo in Africa.

Ahmed assured that his office would assist the authority in its review of the concession agreements with terminal operators: including governance; pricing; operations; transit/exit from the port; traffic management and other key issues, as outlined in the concession framework.

Mulamula disclosed that the IFC, a member of the World Bank Group, is set to make an investment in the Lekki Deep Seaport, just as it is willing to support the terminal operators to upgrade their facilities and equipment.

He further said that the IFC plans to invest funds for the rehabilitation of the Tin-Can Island Port as a Private Participation in Infrastructure (PPI) project.