THE Federal Government has commenced the construction of a deep sea port at the Federal Ocean Terminal, in Onne, near Port Harcourt, Rivers State, to boost the operations of Liquid Natural Gas, LNG, and other deep off shore operations. The project is being executed in partnership with Intels Logistics.
Speaking at the inspection of on-going construction in the project, Minister of Information, Mr. Labaran Maku, said the facility had to be extended because of the pressure the ports in Lagos are currently experiencing, which, he noted, was occasioned by the expansion in the nation's economy.
Maku, who visited the project as part of his Good Governance tour, said that the government had decided to develop more ports across the country with a view to meeting the increasing needs of Nigerian importers and exporters.
He explained that the absence of deep sea ports in West Africa had prompted the government to develop these facilities in partnership with private investors
He said: "This port is of great significance to the government and the economy because this region is basically oil and gas and global attention is being shifted to the Gulf of Guinea because in future, this facility will play a significant role in the supply of oil and gas to the rest of the world." He said the extended port facility sits on 90 hecters of land, adding that Intels has 20 years to recoup its investment.