The Acting Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko stated that several ports including Tin Can Island, Onne, Calabar, and Delta ports require funds to prevent their total collapse. This was disclosed in a statement on Sunday by NPA’s General Manager, Corporate and Strategic Communications, Olaseni Alakija. The statement reads, “We are facing decaying port infrastructure, for example, sections of the quay aprons or walls at Tin Can Island Port, Onne, Delta and Calabar ports are collapsing and require huge funds to repair them.
“With the increasing pressure to remit more revenue to the Consolidated Revenue Fund (CRF) of the Federation, it has become very difficult to have sufficient funds to attend to these decaying facilities, hence the need to explore alternative funding sources outside the traditional port service offerings.”
According to Bello-Koko, NPA is responsible for funding the ports, which he stated puts ‘a lot of strain on our resources and capacity to invest in critical port infrastructure’.
He said the NPA is exploring alternative strategies to enhance the revenue-generation capabilities of the agency.
He added that NPA is in discussions with international financial institutions such as the African Development Bank (AfDB), French Development Agency, European Investment Bank, amongst others for access to long term low-interest loans for the purpose of expansion and improvement of ports’ infrastructure.