• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, October 15, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

$800m Fund For Rehabilitation Of Apapa, Tin-Can Ports Almost Ready – Oyetola

by Yusuf Babalola
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The minister of Marine and Blue Economy, Adegboyega Oyetola, on Thursday, stated that the federal government will begin the rehabilitation of the dilapidated Apapa and Tin-Can Island ports infrastructure as $800million needed for the rehabilitation is almost ready.

Advertisement

Oyetola, while speaking during the commissioning of seven patrol boats by the Nigerian Ports Authority (NPA), said the commissioned boats are expected to improve efficiency at the nation’s ports.

According to the minister, the ministry would ensure that the vessel turnaround time in the nation’s seaports is reduced to four days.

Advertisement

“Again, we are modernising the ports. We want to be able to compete with any port in the world. We want to ensure that the vessel turnaround time is reduced to four days as opposed to about six to 10 days that we currently have. We must commend Mr. President for taking the initiative of creating the Ministry of Marine and Blue Economy and for supporting us all the way.

“I can tell you that the fund for the Port rehabilitation is almost ready and we are going to commence rehabilitation anytime from now,” he stated.

The minister who commended the NPA management for strengthening Marítime Security, however, stated that Nigeria cannot get the full potential of the Blue economy without strengthening the security aspect of the ports.

RELATED NEWS

JUST-IN: Nigeria’s Inflation Rate Drops Further To 18.02%

Understanding Prop Firm Funding Models

Stock Market Outing Tepid As Cautious Trading Wipes N4bn Off Investments

APM Terminals Marks 440 Days Without Lost Time Injury

“I commend the management of the NPA for taking the initiative to strengthen safety in the maritime space. Security is very important and we need to give it the kind of attention it deserves. We cannot be talking of trying to get the full potential of the Blue Economy without strengthening the security aspect of our ports.

“It’s deliberate on the part of Mr. President to have created the Marine and Blue Economy ministry. Blue economy has always been there, but not as structured as to generate the kind of revenue a maritime nation like Nigeria should be earning. So, part of what we are trying to do is to first ensure maritime security. Secondly, we will be talking of automation of the ports to make it more efficient and just two weeks ago, I received the report of the consultant of the Port Community System. Part of that is to drive efficiency at our ports,” the minister stated.

Speaking earlier, the managing director of the NPA, Mohammed Bello-Koko explained that the procurement of the seven Security Patrol Boats were preceded by a robust needs assessment process undertaken by the agency’s Security and Marine Operations Divisions and the Vessel Management Department.

According to the NPA boss, the department painstakingly followed through with the product output specification including necessary sea trials.

“Today’s event is another testament to our commitment to continuous improvement in the journey towards transforming our strategic intent of becoming the maritime logistics hub for sustainable Ports services in Africa from potential to actualities.

“However, I am especially delighted to say that these Security Patrol Boats positioned us to achieve our set goal of driving increased vessel traffic to the Eastern Ports of Onne, Rivers, Warri and Calabar Port Complexes where four of the vessels to be commissioned today have been allocated.

“Although Onne Port has in recent years witnessed increased vessel traffic, we cannot rest on our laurels. We will continue to push the advocacy and galvanise stakeholder opinion towards growing the fortunes of the Eastern Ports.”

“Enhanced Maritime Safety, Security & Compliance to global acceptable standards is one of Nigerian Ports Authority’s Deliverables under the Presidential Priorities of Federal Government of Nigeria. What we are witnessing today, therefore, is pursuant to achieving these deliverables and aligns with the presidential directives regarding performance of MDAs.”

“In addition to positioning us to fulfil the fundamental requirement of security which constitutes a critical success factor in fulfilling two crucial aspects of our post-concession statutory mandates of regulating maritime business and promoting ports security, safe haven for ships and safeguarding and securing assets of the Authority while maintaining their optimal use,” the MD stated.

Join Our WhatsApp Channel

SendShare10172Tweet6358Share

OTHER NEWS UPDATES

Analysts See Inflation Rising Above 32% In March
Business

JUST-IN: Nigeria’s Inflation Rate Drops Further To 18.02%

5 hours ago
Understanding Prop Firm Funding Models
Business

Understanding Prop Firm Funding Models

8 hours ago
Bear Resurfaces As Equities Investors Lose N639bn
Business

Stock Market Outing Tepid As Cautious Trading Wipes N4bn Off Investments

12 hours ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Fayose Declares PDP ‘Dead’, Says 3 More Governors Set To Defect To APC

7 minutes ago

Senate Confirms Odion, Rabiu As FCCPC Executive Commissioners

14 minutes ago

‘I’ll Prove He’s Corrupt, A Fraud’, Deji Adeyanju Reacts To Peter Obi’s Defamation Lawsuit

14 minutes ago

Kano Coach Jailed 8 Years For Defiling Underage Player

29 minutes ago

Nigeria, Austria Deepen Bilateral Economic Relations

54 minutes ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.