Agreement on N43.2 billion Ibadan Dry Port nearing completion – Nigerian Shippers’ Council

Wang Qiongyu of CRCC and Hassan Bello, Executive Secretary/CEO, Nigerian Shippers' Council.

The negotiation over N43,240,000,000.00 Ibadan Inland Dry Port between the Federal Government and CRCC, the preferred bidders is nearing completion, according to a statement by the Nigerian Shippers Council.

Standing as the guarantor to the concession, the council noted that dry port with an eighty thousand (80,000) TEU capacity would be built on the basis of Public-Private Partnership agreement in Ibadan, the Oyo State capital.

On completion, the facility 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 cargo will be consolidated for import and export, especially in the South-Western part of Nigeria.

According to the Council, 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 will boost employment in Oyo State and other cities in the environs.  The Lagos-Kano standard gauge railway currently under construction is linked 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. 

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. 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.

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 Infrastructure Concession Regulatory Commission, ICRC, Engr. 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. The preferred bidder CRCC was led by Deputy Managing Director, Jacques Liao.

The Executive Secretary/CEO of the Council, Hassan Bello expressed satisfaction with the proceedings. He disclosed that all parties expressed firm commitment to the actualization of the project. 

The negotiation, according to the Council, was facilitated by the transaction advisors, Aminu Dikko and Mohammed Kumalia.

Jessica Lu of CCRC, Wang Qiongyu of CRCC and Hassan Bello, Executive Secretary /CEO, Nigerian Shippers’ Council

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