The Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, said that it will cost over $600 million for the total reconstruction of the Tin Can Island Port in Lagos, which has suffered dilapidation and deterioration in recent times.
Speaking on Arise TV during an interview over the weekend, Bello-Koko said that the port has reached its life circle, which requires a total reconstruction, even as he debunked the reports that the port is at the verge collapsing and described such reports as rumours and untrue.
“I have read and heard people saying that the Tin Can Island Port is collapsing, let me say it here that there is no imminent collapse of the port. Yes, there are defects when it comes to the quays, but there have been remedial works,” he said.
He added that after extensive consultations with the terminal operators, it was agreed that a holistic design of the new port should be carried out as against the option of allowing them to individually reconstruct their berths and terminals.
According to him, the option to embark on a total reconstruction was reached because not all the terminal operators have the financial capacity to carryout such huge project, adding that if they are allowed to do it individually at their own time, it might impinge on the integrity of the quays, which would not pay on the long run, which brings about the decision to opt for total reconstruction.