Onitsha River Port Could Generate N10 Billion Annually, Faces Seasonal Challenge
The Onitsha River Port has the potential to generate N10 billion per year, according to its manager, Mr. Martins Osazuwa. While the port is a functional facility, it is currently unable to operate at this capacity due to significant challenges, primarily the seasonal nature of its operations.
Key Insights from the Port Manager:
Immense Revenue Potential: Mr. Osazuwa's estimate of N10 billion in annual revenue is based on the assumption of year-round, full-capacity operation. This revenue would be derived from various port charges, cargo handling fees, and other logistics services.
The Seasonal Bottleneck: The biggest obstacle to continuous operation is the inconsistent dredging and channel management of the River Niger. The port can only operate effectively during the rainy season when the river's water level is high enough for vessels and barges to navigate. This limits the port from becoming a consistent inland logistics hub.
Economic Impact: A fully operational Onitsha River Port would have a transformative effect on Nigeria's economy, particularly in the South-East region. The benefits would include:
Reduced Transport Costs: Water transport is significantly cheaper than road transport, which would lead to lower costs for businesses and consumers.
Ease of Road Congestion: A functional port would divert thousands of heavy-duty trucks from Nigerian roads, reducing traffic, road damage, and accidents.
Stimulated Economic Activity: The port would become a major commercial hub, boosting industrial activity, encouraging export trade, and creating thousands of jobs.
Historical Context: The N10 billion projection adds to a history of ambitious forecasts for the port. Previous estimates from the Infrastructure Concession Regulatory Commission (ICRC) and a former Minister of State for Transportation suggested that the port could generate over N50 billion or N23 billion, respectively, over a 30-year concession period. While these figures differ, they all highlight the substantial untapped potential of the facility.
I'm Aisha shehu
Talksocialtalka News
