N43.2bn Ibadan Dry Port concession arrangement nears completion ― FG

Arrangement by the Federal Government to select the preferred bidder for the Ibadan Inland dry port is nearing completion, the Nigerian Shippers Council (NSC) revealed in a statement at the weekend.

According to the statement which was signed by the Head, Public Relations of the NSC, Rakiya Zubairu, “The 80,000 TEU capacity Ibadan Inland dry port is expected to contribute to addressing the problem of port congestion and gridlock in Apapa as it will be designated a port of destination where the cargo will be consolidated for import and export, especially in the South-Western part of Nigeria.

“Negotiation meeting between the Federal Government and the China Railway Construction Corporation Limited (CRCC), the preferred bidders for the construction of the Ibadan Inland Dry Port is nearing completion.

“The Nigerian Shippers’ Council is the guarantor to the concession, 80,000 TEU capacity dry port to be built on the basis of Public Private Partnership (PPP) agreement in Ibadan, the Oyo State capital.

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

“This project, which has been estimated at US$94,000,000.00 (N43,240,000,000.00), will boost employment in Oyo State and other cities in the environs.

“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 meeting emphasised the utilisation of local content at each stage of development and operation of the facility. Having concluded this stage, an Updated Full Business Case Compliance report will be produced. A draft agreement will 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 will present the agreement to the Federal Executive Council (FEC). The concessionaire will then be taken to the site for sod-turning. It is expected that construction will commence immediately after the ceremony. The time-line for completion is twelve months.

“Moderating the negotiation meeting was the Federal Ministry Of Transportation led by the acting Permanent Secretary,— and the Director, Maritime Services, Auwalu Suleiman. Also present at the meeting was the Director-General of Infrastructure Concession Regulatory Commission (ICRC), Engr. Chidi Izuwa, Secretary to Government of Oyo State, Mrs Olubamiwo Adeosun while Amb. Jummai Katagum represented the Federal Ministry of Finance at the 4-day negotiation. The preferred bidder CRCC was led by Deputy Managing Director, Jacques Liao.

“The ES/CEO of the NSC, Hassan Bello expressed satisfaction with the proceedings. He disclosed that all parties expressed firm commitment to the actualization of the project. Facilitation of the meeting was enabled by the transaction advisors, Aminu Dikko and Mohammed Kumalia.”

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