Benin River Port to begin operations 2024 – Ogbeifun

Chairman, Benin City River Port project Technical Committee, Engr. Greg Ogbeifun, has said that the Benin River Port (BRP) is expected to be ready and commence operations by second quarter of 2024.

Speaking with journalists shortly before he led members of the committee on a courtesy visit to the Nigerian Ports Authority (NPA) in Lagos on Thursday, Ogbeifun said the river port project is at 45 percent completion while the Outline Business Case (OBC) is 95 percent completed.

He said, “We have focused on all that is necessary to ensure that when we come out with the OBC, meet with the relevant authorities, they will see all we have done including the justification for the work we have done and then decide to give us the nod which must come from the Federal Executive Council (FEC).

“So, we will start from NPA, involve the Ministry of Transportation, Infrastructure Concession Regulatory Commission (ICRC), then the Federal Executive Council.

“We are 95 percent through with the OBC and we have 45 percent accomplished the project. It is expected that the port will be up and running by the second quarter of 2024.”

Ogbeifun, who said the State governor had approved the engagement of a Transaction Adviser for the provision of Transaction advisory services on the project said the project would be developed through Public- Private partnership.

According to him, no fewer than 28 investors have indicated interest to invest in the port project.

“We have appointed an international transaction Adviser who we sourced through a competitive bid. We hired a local consultant who worked with us to develop the request for proposal and for the procurement of an international transaction adviser. Through that process, we now appointed a company based in Canada with offices in Abuja so they met all the requirements and we have started working with them.

“What we set out to achieve is a port that will be owned in a PPP arrangement between the state government and the investors. So, after the OBC and we get the government nod, we will now go ahead to do the full feasibility study. As at the last count, there are about 28 investors who have expressed interest, then we will then come out for a competitive bid for the investors. What we are hoping is that in the course of this year, we would have completed that process,” he said.

Ogbeifun said the port which is strategically positioned to be the second nearest port to Lagos will be dedicated mainly to Agro Allied products.

“We are building a port that is agro -allied. What we are developing is a port community. In developing the port community, we looked at the mistakes made in establishing existing ports and some that are today not viable like the ones in Warri, Sapele, Koko and Burutu. So, we have to consciously develop the concept that will address that aspect.

“All the agricultural produce coming from the northern states through the middle belt, they came to Edo and headed West to Lagos to be shipped through the Lagos ports with the attendant delays.

“So, we are incorporating an agro industrial park in the port community where stakeholders can develop processing lands and foreign importers of our goods can be invited to set up shops.

“The port is about 32 nautical miles from the Atlantic-ocean, so this port is going to be the second nearest port next to Lagos to the Atlantic,” he said.