The Concessionaire of Funtua Inland Dry Port on Thursday said over $20 million intervention fund would be needed to get the port operational within a year.
He, however, said that the devaluation of naira against the dollar over the years affected the progress and the total cost to get it operational. “The cost has really gone up beyond what it was initially estimated. Before naira was 170 to dollar, but today we know how much naira is to dollar. “It depends on what type of intervention they can make, based on their assessment, we are hoping that after the exercise they can give us between $15 to $20 million,“ he said.
“Initially, we had other investors like Golf Engineering Company in Germany; they indicated interest initially, with other local investors including the Chinese, and so we are hopeful. She said that the inspection was carried out to check the progress of work so far, adding that the major challenge limiting the progress was funds.
Oya Food is ready GovernorMasari AlikoDangote Mbuhari pls do something It will create jobs for thousand and open new hub for Business in Northern Nigeria
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Katsina S-Power Beneficiaries Seek Permanent Job OfferThe S-Power beneficiaries in Funtua local government area of Katsina state on the auspices of S-Power (Graduates) Union, Zonal Education Quality Assurance Funtua, has lauded the state governor, Aminu Bello Masari, for creating the initiative and temporarily employing thousands of teeming youths in the state. In a statement issued to journalists by the chairman of […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Katsina APC Senator Elect Dragged Before Chief Magistrate Court Over False Information, ForgeryA Katsina based activist, Shehu Dahiru has dragged before the chief magistrate court Funtua, the Senator elect for Kastina South Senatorial district on the platform of the All Progressive Congress (APC) Alhaji Bello Mandiya over an allege false information and forgery. According to bthe application for direct criminal complaint of false information and forgery […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
China To Invest $250 million On Ibadan Dry PortChina To Invest $250 million On Ibadan Dry Port. mediahangoutng Why would the President sign infrastructure deals with China but fail to sign the African Continental Free Trade Agreement? We are better off leveraging African scale of economies than ceding future of the nation to Chinese interests. and which African country has the technical knowhow to build either dey port or rail system? I pity & weep for Nigeria dealing with China.
Source: channelstv - 🏆 7. / 63 Read more »
PHED Restores Power to Port Harcourt - THISDAYLIVEThe Port Harcourt Electricity Distribution Company (PHED) has said that it has completed repairs of faulty Elelenwo transmission station that led to outages in several parts of Port Harcourt. PHED’s Manager, Corporate Communications, Mr John Onyi, announced this in a statement in Port Harcourt on Tuesday. He said the station located in Elelenwo community supplied …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Unspeakable cruelty: How policemen turn complainants to ‘ATM,’ milk them dryLolz everything na scam To avoid police 👮♀️ men taking advantage of citizens, pay 💰 them well jor! Recently I made a complain the officer in charge asked me for airtime in order to reach the guy I complained about. He got that alright. Next time I asked how far he had gone ,he told me he needed mobilization to effect arrest & investigation.
Source: MobilePunch - 🏆 8. / 63 Read more »
Reps, NPA disagree on cause of revenue reduction at PortsThe House of Representatives Committee on Ports, Harbours and Waterways was on Thursday told why there is a continuous reduction in the influx...
Source: TheNationNews - 🏆 6. / 69 Read more »
FG To Convey 30m Tonnes Of Cargo Yearly From Lagos PortsThe minister of Transport, Rotimi Amaechi has said that the connection of standard gauge railway to seaports at Apapa, Lagos will enhance evacuation of 30 million tonnes of cargoes awaiting carriage yearly. Currently, between 200,000 and 300,000 tonnes of cargoes are evacuated on narrow gauge railway line. The minister disclosed this at the weekend during […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
LCCI Condemns Deployment Of Customs Strike Force To PortsLagos Chamber of Commerce and Industry (LCCI) has condemned the deployment of the Customs Strike Force to ports. LCCI in a statement to media yesterday, said “The attention of the Chamber has been drawn to the circular issued by the Customs Headquarters, deploying the ‘Strike Force’ to all ports with the powers to intercept and […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Port Harcourt City LG To Clamp Down On Street TradingThe Chairman, Port Harcourt City Local Government Area, Mr Victor Ihunwo, says his administration is determined to clamp down on street trading in the metropolis. Ihunwo who stated this in an interview with the News Agency of Nigeria (NAN) on Friday in Port Harcourt, said the measure was to restore the Rivers capital to its […] As if the government gave them shops and dey refused?
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Amaechi orders NRC to revaluate facilities at Apapa portThe Minister of Transportation, Mr Rotimi Amaechi, has ordered the Nigerian Railway Corporation (NRC) to re-evaluate its existing assets at the Apapa Ports.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Gunmen storm luxury hotel in Pakistan port city of Gwadar - Vanguard NewsAt least one person has been killed after three gunmen stormed a five-star hotel in the southwestern Pakistani city of Gwadar, the centrepiece of a multi ...
Source: vanguardngrnews - 🏆 5. / 75 Read more »