…Seeks $3trn for infrastructure
The Nigerian Shippers’ Council (NSC) has revealed that they have investments in the transport sector of the National Integrated Infrastructure Master plan (NIIMP) has provided capital inflow worth $11.32 billion in the last four years.
Amehnews recalls that of recently the Senate passed ‘The National Transportation Commission Bill’ after its third reading. The Bill is for the replacement of the Nigerian Shippers’ Council with National Transportation Commission (NTC) as the name imply will be responsible for transportations matters (Land Transport, Marine Transport and Aviation Transport) if assent by Mr President soon. Therefore, the Nigerian Shippers’ Council invested heavily in transport sector instead of maritime subsector, cannot be off-track ahead of the bill.
According to the data provided by the port economic regulator, revealed that in 2014, the investment opportunity moved from $0.72 billion to $1.7 billion in 2015 and subsequently increased to $3.2 billion and $5.7 billion between 2016 and 2017 respectively based on sector growth strategies, outcome targets and international benchmarks.
Therefore, Council’s total investment of about $3 trillion would be required between by 2043 in the country’s transport sector infrastructure.
It was further gathered that the Council was making moves to woo more investors to invest in all the transport sub-sectors.
Executive Secretary of the Council, Barrister, Hassan Bello, said in Lagos that the NIIMP was planning to raise Nigeria’s core infrastructure stock estimated at between 20 and 25 per cent in 2013 to a minimum of 70 per cent of Gross Domestic Product (GDP) by 2043.
In spite of the investment projections, Bello explained that the country was still having deficit in infrastructural investment due to over reliance on government funding.
Executive Secretary noted: “When compared with the proposed allocation in NIIMP, the 2016 allocation to the transport sector in 2016 showed a gap of about N900 billion. The deficit is enormous because of the near total reliance on government funding and mono-economy.”
However, he said that investment windows were opened for intending investors in Inland Container Depot (ICD) at Kakuri, Kaduna State, Heipang in Jos; Funtua, Zamfara State; Erunmu-Ibadan, Oyo State; Zawachiki in Kano State. Others are Isiala Ngwa, Abia State and Janri near Maiduguri, Borno State.
Also, the Council boss said that investment opportunities were available at the Truck Transit Parks (TTPs) being established by NSC in designated locations at port novo creek in Lagos State, Ogere in Ogun State; Onitsha in Anambra State; Maraban, Jos; Kaduna State and Jebba in Kwara State. Others are Ore in Ondo State; Obollo-Afo in Enugu State, Benin bypass in Edo State; Aviele in Edo State and Illela in Sokoto State.
Barrister also noted that since the ports were concessioned, ship waiting time had been reduced to zero from the usual 21 days, while vessels’ turnaround time had reduced to 41 hours from five days.
Furthermore, he disclosed that container dwell time had reduced to 14 days from 28 days, while operational time had extended to 24 hours every day, including Saturdays and Sundays, instead of operational period of between 9am and 4pm, Monday to Saturday.
Bello stressed that these were pointers to the improved port efficiency due to the huge investments in equipment, ports infrastructure, and lighting along with common user facilities.
