Nigeria: Dredging Projects to Promote Maritime Business

The dredging of the port channels and the wreck withdrawal conducted by the Nigerian Ports Authority (NPA) in cooperation with Lagos Channel Management Company as its technical partners, have been praised by the stakeholders. They stressed that the venture will make the country appealing to investors since the ports are deep enough to take huge vessels.

Executive Chairman, Sunlight Shipping and Trade, Mr. Joseph Abraham stressed that the investors had taken Malabo, Equatorial Guinea into consideration prior to deciding to choose Nigeria. “The majority of investors, who initially banked on Malabo for the service of the oil rig, are warming up to come to the country based on the efforts targeted on channel management and wrecks removal” said Abraham.

“Some foreign investors in the oil rig business have reportedly cancelled an oil rig construction, which was earlier planned for Equatorial Guinea and brought it into Lagos, on the premise that business prospect in the country with developed and deepened channels would be better than in Malabo.” he added.

The Managing Director, Crown Shipping Venture, Mr. Sesan Olowoporoku did not hide his satisfaction since he believes that Nigeria will obtain the long desired hub status as a result of the port improvement.

Positive outcomes have been yielded due to the channel management efforts. Persistent dredging of the channels and removal of the wrecks conducted by NPA, cause importers and other port users to hope for the best.

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Dredging Today Staff, November 25, 2011;