The Federal Government has announced a commitment to invest $800 million in the rehabilitation of the nation’s ports, as stated by the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola. The announcement came during the inauguration of seven patrol boats by the Nigerian Ports Authority (NPA) in Lagos on Thursday.
Minister Oyetola commended the NPA for enhancing safety in the maritime space, emphasizing the significance of security in achieving the full potential of the Blue Economy. He highlighted the ongoing efforts to modernize the ports, aiming to compete globally and reduce vessel turnaround time to four days. Oyetola expressed gratitude to President Muhammadu Buhari for establishing the Ministry of Marine and Blue Economy and ensuring support for their initiatives.
Oyetola disclosed that the funds for port rehabilitation are nearly ready, with plans to commence the rehabilitation shortly. He underscored the importance of efficient ports to Nigeria's competitiveness in the global maritime sector and outlined plans for maritime security and automation to enhance efficiency.
The Minister also emphasized the historical significance of the blue economy, stating that its potential revenue generation had not been fully realized. He outlined plans to focus on maritime security, automation of ports, and overall efficiency improvement.
Managing Director of NPA, Mr Mohammed Bello-Koko, explained that the procurement of seven security patrol boats followed a thorough needs assessment process. The boats, commissioned to improve efficiency at Nigerian ports, were a result of careful planning and compliance with global security standards, particularly the International Ship and Port Facility Security (ISPS) code of the International Maritime Organisation (IMO).
Bello-Koko highlighted NPA's commitment to continuous improvement, aligning with the government's directive for MDAs to perform efficiently. The deployment of state-of-the-art security patrol boats is a step toward fulfilling statutory mandates, ensuring maritime safety, security, and compliance with international standards. The move aims to position NPA as a maritime logistics hub for sustainable port services in Africa.
The announcement signifies the government's dedication to upgrading and securing Nigeria's ports infrastructure for enhanced global competitiveness and efficient maritime operations.
