Skip to main content

CBN drives investments for rehabilitation of moribund ports.

CBN drives investments for rehabilitation of moribund ports. 

The Central Bank of Nigeria, CBN, has commenced moves to rehabilitate moribund ports across the country to create better efficiency and ease congestion at Nigeria’s ports industry.

Speaking at the third edition of the Nigerian Ports and Trade Investment Forum, Assistant Director, Development Finance Department, CBN, Mr Ayoola Kadiri, said the apex bank is currently looking for investors to bring these moribund ports back to life to grow the country’s export trade.

Kadiri also said that reviving these moribund ports is geared towards de-congesting the existing ports, adding that there is a fund dedicated for this purpose.

He stated: “We are looking for investors that want to invest in moribund ports across Nigeria. There is finance and collaboration from CBN on how these moribund ports can be revived which will help to decongest Lagos ports.

“We are working with the Nigerian Exports Promotion Council. Also the management of the apex bank is working with fiscal authority to see if the port processes can be aligned with our processes.

“We have spoken with the Nigeria Customs Service and the Nigerian Ports Authority because driving that efficiency is very key. This is very critical for the country because the more we drive non-oil export the better for the country.”

Also speaking at the event, Chief Executive Officer of ‘Welcome 2 Africa’, Ms Bamidele Owoola, said it is imperative to address the challenges at the ports.

“Modernizing our ports is not only crucial for enhancing trade efficiency, but also for driving economic development in our nation. And having recently come back from India, I know there is a huge investment and trade interest in Nigeria, so the sooner we improve the ports across the country the better,” she stated.

# Aina Stephen

Comments

Post a Comment

Popular posts from this blog

Subscribe to my youtube channel

Tiktok Youtube
Post a Comment
Read more

Osun: Police arrest civil servant, filmmaker over alleged rape of teenager

  The Osun Police Command has arrested a teacher, Gbenga Samson Ayenioye and his friend, a theatre practitioner, Tunde AmokeOja, for allegedly raping a 16-year-old girl (name withheld) who is said to be one of his students. The civil servant and his friend, Amokeoja were arrested for allegedly raping the teenager on different occasions. It was gathered that Ayenioye, who was a Financial Accounting teacher at Osogbo Grammar School, invited the girl; his students, to a relaxation centre at Latona area in Osogbo on Sunday, February 16, 2020. Ayenioye, a married man, in his early 40s, was said to have allegedly forced the girl to bed and later introduced her to his friend, AmokeOja, a theatre practitioner on the promise that he would assist in developing her film acting skills in order to be able to raise funds for her WAEC fee. Ayenioye has been recently transferred from the school to the State Ministry of Education. On February 18, 2020, AmokeOja, a film production mana...
Post a Comment
Read more

EKITI ASSEMBLY APPROVES DEATH PENALTY FOR CULTISTS

A bill seeking to prohibit the activities of secret cults scaled third reading at the Ekiti State House of Assembly on Tuesday. The substance of the bill is the prescription of the death penalty for those found guilty of breaching the law in that regard. Persons found guilty of aiding and abetting cultism would also bag life imprisonment. All that is left is for it to be signed into law by the governor. The new provision was an amendment to the law against cultism, enacted by Ayo Fayose during his first tenure as governor of the state. The law had provided a seven-year imprisonment for anyone convicted of cult activities, whereas those aiding and abetting the act were to be imprisoned for five years. The bill titled, 'Secret Cult (Abolition and Prohibition) [Amendment] Bill, 2017,' gained the lawmakers' attention following increase in cult activities at the Ekiti State University, Ado Ekiti which led to the killing of students recently. Before the passage, t...
Post a Comment
Read more