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FEC approves four new companies to overhaul Nigeria’s seaport operations
He said a new company had been approved to manage the Lagos port channel, with a change of name, while the Calabar Channel would be managed by the Calabar Channel Management Company.
The Federal Executive Council (FEC) has approved four new channel management companies for seaports across Nigeria as part of efforts to improve vessel navigation and port operations.
The disclosure was made by Capt. Ebubeogu Ihenacho, a former General Manager of Marine and Operations, at the recently concluded Annual General Meeting of the Nigerian Association of Master Mariners (NAMM).
Ihenacho also revealed that changes would be made to the ownership structure of the Lagos Channel Management Company Limited and the Bonny Channel Management Company as part of the development.
Although Very Nigerian could not independently ascertain the identities of the new owners, sources close to the Nigerian Ports Authority (NPA) said a Belgian company is expected to take over channel management operations at the Lagos ports.
According to Ihenacho, the four channels serving Nigeria’s major port clusters will have different channel management companies as approved by the FEC.
He said a new company had been approved to manage the Lagos port channel, with a change of name, while the Calabar Channel would be managed by the Calabar Channel Management Company.
He added that the Bonny Channel Management Company had also undergone a change of ownership.
On the Warri Channel, Ihenacho said the Federal Government had approved China Harbour Engineering Company (CHEC) and two other companies to form a consortium to manage the Escravos Channel.
He said: “For Warri, it was approved for China Harbour Engineering Company, CHEC, and two other companies, who would now form a consortium. That consortium will now form a Special Purpose Vehicle (SPV) with the Nigerian Ports Authority to manage the Escravos Channel.”
Recall that the management of the NPA had declined to renew the concessions of the Lagos Channel Management Company Limited and the Bonny Channel Management Company, opting instead for six-month extensions of the existing arrangements.
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