Home Sectors BUSINESS & ECONOMY FG Eyes N23bn In Revenue From Onitsha River Port

FG Eyes N23bn In Revenue From Onitsha River Port

FG Eyes N23bn In Revenue From Onitsha River Port

The Federal Government (FG) is looking forward to generating no less than N23 billion from Onitsha River Port in 30 years from now. This is according to Gbemisola Saraki, the Minister of State for Transportation.

During the signing of an agreement between the federal government and Universal Elysium Consortium Limited on the concession of the Onitsha River Port, where he made this known, the minister revealed that the project would also ensure that the 60% shipped cargoes that hitherto go through Onne Port in River State would be transported directly to Onitsha.

Maintaining that the Onitsha River Port has lots of econmic benefits, Saraki listed them as “creation of wealth, creation of jobs, security and greater development.”

Saraki further hinted that “the Baro, Lokoja and Oguta ports, which are at different stages of completion, will be considered after the Onitsha Port. The most important thing is that we already have interest from potential investors who want to actually take over these ports.”

“As for the Onitsha River Port, we hope it is a catalyst for other river ports so that it will decongest other ports and bring about growth. You know the traffic on our roads, the state of our roads as well as the tankers and freight being moved on our roads have now reduced.

“And so it is a very good thing and we are exceptionally proud that at long last we have actually achieved this. It’s being signed and we look forward to the growth there to materialize,” she added.

What you should know about Onitsha River Port

Floated about three decades ago, the port had remained moribund, such that it was optimally unutilised.

It is one of the four inland ports in the country with others situated in Lokoja, Kogi State; Baro in Niger State and Oguta in Imo State.

With a land area of more than 12 hectares, the Port is equipped to deal with general cargo such as containers, bulk cargo, and other packaged freight.

It also boasts of modern facilities, such as storage workshops and parking areas to cater to operations.


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