Home News 15 Years After, FG Approves Chinese Firm To Construct N43bn Ibadan Dry...

15 Years After, FG Approves Chinese Firm To Construct N43bn Ibadan Dry Port


After fifteen years of a lackluster process, the Federal Government, on Saturday, selected a Chinese firm to build the Ibadan Dry Port.

The Dry Port is expected to cost N43.24 billion naira.

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A statement by the Head of Public Relations, Nigeria Shippers’ Council (NSC), Mrs Rakiya Zubairu, revealed that the China Railway Construction Corporation Limited has emerged the preferred bidder for the construction of the 80,000 TEU capacity dry port on the basis of Public Private Partnership (PPP).
Zubairu noted that the NSC would be the guarantor to the concession of the project.

The project has now been relocated from Erunmu to Akinyele area of Ibadan.

The Dry Port is aimed at decongesting Lagos ports and the gridlocks in Apapa area of Lagos.

According to Mrs. Zubairu, the facility would be designated as port of destination where cargo would be consolidated for import and export, especially in South West Nigeria.

“Among other uses, the dry port will provide a competitive cargo sorting centre, bulk breaking as well as cargo-tracking and truck management services.

“The Lagos-Kano standard gauge railway currently under construction is aligned to the proposed dry port, making it easy to convey cargo from the seaports in Lagos and to all destinations along the route.

“The negotiations emphasised the utilisation of local content at each stage of development and operation of the facility,” the statement read.

She noted that an updated Full Business Case Compliance report ’’would be produced at the end of the ongoing negotiations. Thereafter, a draft agreement would be presented to the Federal Ministry of Justice and sent to the Infrastructure Concession Regulatory Commission, (ICRC) for vetting, after which the Minister of Transportation would present the agreement to the Federal Executive Council.”

She also said that the concessionaire would then be taken to the site for sod-turning and immediate commencement of construction with a completion timeline of 12 months.

The negotiation was moderated by the Federal Ministry of Transportation led by the acting Permanent Secretary and the Director, Maritime Services, Auwalu Suleiman.

“The Director-General of ICRC, Mr Chidi Izuwa, Amb. Jummai Katagum, who represented the Federal Ministry of Finance was also part of the 4-day negotiation.

“Also present, was Mrs Olubamiwo Adeosun, Secretary to Government of Oyo State and the preferred bidder CRCC was led by Deputy Managing Director, Jacques Liao,” Zubairu said.

She said that NSC Executive Secretary, Hassan Bello, expressed satisfaction with the proceedings as all parties expressed firm commitment to the actualisation of the project.

Zubairu further explained that transaction advisors, Aminu Dikko and Mohammed Kumalia, facilitated the negotiation, pointing that it would soon be completed.

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