Shippers’ Council guarantees concession in FG, CRCC N43 bn Ibadan Inland Dry Port project

The Nigerian Shippers’ Council is the guarantor to the 80,000 TEU capacity Inland Dry Port concession project between the Federal Government and the CRCC, proposed for construction in Ibadan, the Oyo State capital.

In a statement, the Nigerian Shippers’ Council said the project, which is awarded to the preferred bidder CRCC, at $94 million USD would be done on the basis of Public Private Partnership agreement.

“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 negotiation meeting between the Federal Government and CRCC, the preferred bidders for the construction of the Ibadan Inland Dry Port is nearing completion,” the Council said.

It said that on completion, the facility would expectedly address the problem of port congestion and gridlock in Apapa, as it would be designated a port of destination where cargo would be consolidated for import and export, particularly in the South-Western part of Nigeria.

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

“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 emphasised the utilisation of local content at each stage of development and operation of the facility.”

Concluding this stage of the negotiation, the Council said an Updated Full Business Case Compliance report would be produced, and “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.

Also present were Amb. Jummai Katagum who represented the Federal Ministry of Finance, Mrs. Olubamiwo Adeosun, Secretary to Government of Oyo State. And the CRCC was led by Deputy Managing Director, Jacques Liao.

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

The transaction advisors, Aminu Dikko and Mohammed Kumalia facilitated the meeting, the Council said.