Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,684 members, 7,955,543 topics. Date: Sunday, 22 September 2024 at 08:52 AM |
Nairaland Forum / Nairaland / General / Politics / FEC Approves $1.3b For Construction Of Lekki Deep Sea Port (3213 Views)
INEC Chiefs Got Diezani’s N23.3b For Poll / MTEF: FEC Approves N6tr Expenditure For 2016 / FG, Lagos Sign MOU On Lekki Deep Sea Port (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 6:50pm On Dec 04, 2013 |
December 04, 2013 at 5:38 pm By BEN AGANDE, ABUJA. The Federal government Wednesday took the initiative to decongest existing ports in the country as it approved a $1.35billion contract for the construction of a new Deep Sea Port in Lekki- Lagos State. Minister of transport Senator Idris Umar who briefed state house correspondents after the weekly Federal Executive Council meeting said the project which is expected to be completed within the next four years is to constructed under a public private partnership PP arrangement on a concession basis for a period of 45 years after which it will revert to the federal government. The Minister explained that the federal government has 20 percent equity in the project with Lagos state having 18.5percent equity while the private investors have 61.85 percent stake in the project. He said “Council approved the issuance of a Guarantee to cover financial obligation of the NPA to pay compensation in the event of expropriation, war, civil disturbance, breach of contract and other event of default as per the concession agreement for the development of the port, as $800million out of the project cost is to be funded through debt financing while the balance of $554.5million is to be contributed by equity. More details soon 2 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 7:00pm On Dec 04, 2013 |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 7:07pm On Dec 04, 2013 |
When this port is completed, it will be the first deep sea port built since independence. This same president that a certain people hate so much has now effectively commenced a project that has been in the pipeline for decades 6 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by awodman: 7:12pm On Dec 04, 2013 |
Good development...but this concentration in Lagos is too much..Pls we need the Ibaka Deep port contract to be awarded..how about making calabar,Ph and Warri Ports work 3 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 7:15pm On Dec 04, 2013 |
Noted. Curiously, the same newspaper ran following article yesterday Ghana moves to over-take Nigeria, awards $2.5bn port expansion contractRead more |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by simplyme3(f): 7:16pm On Dec 04, 2013 |
GEJ is working. 2 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 7:17pm On Dec 04, 2013 |
awodman: Good development...but this concentration in Lagos is too much..Pls we need the Ibaka Deep port contract to be awarded..how about making calabar,Ph and Warri Ports workYou know the project is PPP so it is naturally expected that private investors will be more interested in Lagos. I dont know how that of Ibaka, which govt being also intends to build thru PPP, has progressed. That one is still in the pipeline |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 7:27pm On Dec 04, 2013 |
thumbs up to the lagos state government, the private investors. 1 Like |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 7:30pm On Dec 04, 2013 |
sorry I forgot the " "clueless" ijaw fisherman" 1 Like |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by plaindealer: 7:35pm On Dec 04, 2013 |
Sincere 9gerian: When this port is completed, it will be the first deep sea port built since independence. It took the "clueless" ijaw fisherman to effectively commence this project that has been in the pipeline for decades 1. You mind showing us any documented fact stating the exact date this project was initiated and by who? 2. If this Ijaw man was responsible for awarding this contract, then why is he yet to award the contract for the 30 year old drawing board 2nd Niger bridge? 3. And why are they awarding contracts for everything in other parts of the country and not this 30 year old drawing board 2nd Niger bridge? Is it not obvious that this has nothing to do with GEJ and more to do with the folks controlling and directing the Nations funds, their alliance and need to approve money for everything in their respective regionS? The Ijaw man is powerless with zero influence and can not approve money for anything in his core base and area of support. 8 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Mynd44: 7:43pm On Dec 04, 2013 |
Okay cool. We also need private investors to build the 2nd Niger bridge. I believe the federal government should allow the private sector build it and toll it for a number of years else, it wont get anywhere. The senators representing the areas affected by this bridge need to earn their keep and start talking about it at every opportunity This development is cool though |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by simpleseyi: 7:55pm On Dec 04, 2013 |
awodman: Good development...but this concentration in Lagos is too much..Pls we need the Ibaka Deep port contract to be awarded..how about making calabar,Ph and Warri Ports work It is not too late, you can still carry the Lagos ports to Calabar, Warri and Port-Harcourt. Idiota. Do all South-Southerners reason the same? |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Ayekotoo(m): 8:02pm On Dec 04, 2013 |
Sincere 9gerian: When this port is completed, it will be the first deep sea port built since independence. This same president that a certain people hate so much has now effectively commenced a project that has been in the pipeline for decadesThis is a project conceived and initiated by Babatunde Fashola while the FG came in as the regulator before they(FG) later agreed to collaborate with the LASG to invest in it. Lagos State Governor Babatunde Fashola says the construction of Lekki Seaport has begun while the design for the international airport is ready. 2 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by OPCNAIRALAND: 8:04pm On Dec 04, 2013 |
Sincere 9gerian: When this port is completed, it will be the first deep sea port built since independence. This same president that a certain people hate so much has now effectively commenced a project that has been in the pipeline for decades Do you have any sense of the stages of a project? What is "commence" a project? 1 Like |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Olugbenger(m): 8:04pm On Dec 04, 2013 |
Nice development if true. |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Ayekotoo(m): 8:08pm On Dec 04, 2013 |
awodman: Good development...but this concentration in Lagos is too much..Pls we need the Ibaka Deep port contract to be awarded..how about making calabar,Ph and Warri Ports workThis is project designed by Lagos government. it has nothing to do with your FG. if you want your Abraka deep port to get done, hold your governments for the negligence. BTW stop claiming what doesn't belong to you. its intellectual theft! |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by OPCNAIRALAND: 8:08pm On Dec 04, 2013 |
plaindealer: Precisely, not able to find a role for Gej he said he "commenced" the project. Why has he not commenced Niger bridge? |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 8:11pm On Dec 04, 2013 |
Even when FACTS have been established Tinubu e-dogs are still spewing thrash. Smh 7 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Brimmie(m): 8:12pm On Dec 04, 2013 |
Eko O Ni Baje Oo! |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 8:17pm On Dec 04, 2013 |
Sincere 9gerian: Even when FACTS have been established Tinubu e-dogs are still spewing thrash. Smhcounter them nah, don't run away like you did on the enugu massive unemployment thread. 1 Like |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by plaindealer: 8:18pm On Dec 04, 2013 |
Sincere 9gerian: Even when FACTS have been established Tinubu e-dogs are still spewing thrash. Smh What facts was established? Don't you mean established lies? I see you conveniently ignored the 2nd Niger bridge question. It's OK don't answer, it's above your pay grade anyway... lol 6 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by talktimi(m): 8:21pm On Dec 04, 2013 |
The way they were shouting this thing since i thought it was the LASG that was the alpha and omega of this project now one yam is trying to deny the FEC of their due commendation. Smh 6 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by plaindealer: 8:26pm On Dec 04, 2013 |
You keep abusing and badmouthing folks from other regions and see where it gets you? .. |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Ngwakwe: 8:27pm On Dec 04, 2013 |
This assurance proves the readiness on the part of Government to get the job done. It's now over to private investors to redouble their efforts to mobilising every needed equipment, materials and man-power to site as to deliver the project as planned. He said “Council approved the issuance of a Guarantee to cover financial obligation of the NPA to pay compensation in the event of expropriation, war, civil disturbance, breach of contract and other event of default as per the concession agreement for the development of the port 2 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by awodman: 8:29pm On Dec 04, 2013 |
talktimi: The way they were shouting this thing since i thought it was the LASG that was the alpha and omega of this project now one yam is trying to deny the FEC of their due commendation. Smh FG even holds a higher equity in the project
1 Like |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 8:30pm On Dec 04, 2013 |
The seaport was designed by Lagos State Government under Fashola The Guru. God Bless Fashola The Genius, God Bless Lagos State Government, God Bless Yorubaland and God Bless Federal Republic of Nigeria. When completed in the next four years, thousands of people shall be employed. Fashola is indeed a visionary leader. I just love our APC Southwest Governors, they are Brilliant and giving us the results. APC shall rule in Southwest till Jesus Comes. Eko O Ni Baje OOOO and Osun A Dara. 3 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 8:30pm On Dec 04, 2013 |
Obiagelli:Nonsense! The details of the project was highlighted in the OP. It is a FG project being executed in partnership with Lagos State govt and private sector. Without the FG, the project is dead. This is why FEC (not Lagos State govt) had to approve award the contract for the project. FG also provided guarantee for the private investor involved in the project. There is no room for cheap lies and propaganda here. FG is also working on the Ibaka deep sea port and that too will soon be awarded. 4 Likes |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Ayekotoo(m): 8:31pm On Dec 04, 2013 |
Sincere 9gerian: When this port is completed, it will be the first deep sea port built since independence. This same president that a certain people hate so much has now effectively commenced a project that has been in the pipeline for decadesdoes he have the idea, the vision? is he innovative enough to initiate this project? has he done this magnitude of project before? Answers to these questions will tell you what he is. |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Nobody: 8:33pm On Dec 04, 2013 |
awodman:Apart from that, FG will also provide "Guarantee to cover financial obligation of the NPA to pay compensation in the event of expropriation, war, civil disturbance, breach of contract and other event of default as per the concession agreement for the development of the port" |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by plaindealer: 8:36pm On Dec 04, 2013 |
talktimi: The way they were shouting this thing since i thought it was the LASG that was the alpha and omega of this project now one yam is trying to deny the FEC of their due commendation. Smh The question is, when are we going to commend the FEC for awarding contract for the 2nd Niger bridge? |
Re: FEC Approves $1.3b For Construction Of Lekki Deep Sea Port by Ayekotoo(m): 8:38pm On Dec 04, 2013 |
Sincere 9gerian:shut it! without the FG, the project won't be dead but will take longer time to complete because LASG can't borrow from world bank without the FG endorsement just like the badagry road and the light rail. 1 Like |
Shocking Video! Nigerian Politician Caught Performing Rituals Nak£d / We Want More Abians In Unimaid, Unimaid VC Tells Governor Ikpeazu (photos) / Maximum Nnamdi Kanu Should Get - See Sample Offender
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 54 |