Funtua Dry Port needs over $20m for completion – Concessionaire

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Nigerian Shippers Council (NSC) Team, inspecting the Funtua Inland Dry Port in Kastina.
Nigerian Shippers Council (NSC) Team, inspecting the Funtua Inland Dry Port in Kastina.

By Taiye Elebiyo-Edeni

The Concessionaire of Funtua Inland Dry Port (FID) on Thursday said over 20 million dollars intervention fund would be needed to get the port operational within a year.

Mr Usman Iya-Abbas, the Managing Director of Equatorial Marine Oil and Gas Company Limited disclosed this during the inspection of the port with the Nigerian Shippers Council (NSC) in Katsina.

According to him, the port was concession to the company since 2006 and has made remarkable progress in terms of development.

He, however, said that the devaluation of naira against dollar over the years affected the progress and the total cost to get it operational.

Iya-Abbas said that the initial cost of the project was put at about three billion dollars, but with the current exchange rate it was more than that.

“Initially, when the project started the feasibility study that was done, then, the entire budget…



Source: News Agency of Nigeria