The Nigerian Ports Authority has secured a $700 million loan from Citibank and funded the United Kingdom Export Finance to rehabilitate the Apapa and Tincan Island Ports in Lagos.
The Managing Director of the NPA, Mohammed Bello-Koko, disclosed this in a statement on Wednesday, noting that the loan mandate letter would be sent to the Debt Management Office for final review and approval.
READ ALSO: Navy Dismantles 60 Illegal Refineries In Niger Delta
He said NPA had opened discussions with another funding agency to finance the upgrading of the Eastern Ports, including Calabar, Warri, Onne, and Rivers Ports, and the reconstruction of Escravos Breakwater.
“Currently in Nigeria, importers or exporters fill 30 to 40 forms for one transaction, but the Port Community System would reduce the numbers of forms, human interference and ensure speedy clearance process in or out of the country,” the NPA boss added.
A fresh development has surfaced in the ongoing investigation into the death of Nigerian hip-hop…
Star goalie Chiamaka Nnadozie's potentially serious injury has disrupted Nigeria's 2024 Women's Africa Cup of…
The Federal Competition and Consumer Protection Commission's (FCCPC) $220 million fine against Meta Platforms Inc.…
Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, has urged the South…
The All Farmers Association of Nigeria (AFAN) has expressed concern over the viability of organic…
Manchester City manager Pep Guardiola and his wife, Cristina Serra, are reportedly trying to mend…
