The Federal Government has defended a \u00a3746 million ports upgrade deal with the United Kingdom, saying it will improve trade, reduce logistics costs, and create jobs\u2014despite criticism that foreign partners may benefit more.<\/p>\n
The agreement focuses on modernising Nigeria\u2019s Apapa and Tin Can Island ports. Together, these ports handle about 70% of the country\u2019s trade. The government argues that upgrading the facilities and improving operations will make Nigerian trade more efficient and help the country compete better in regional and global markets.<\/p>\n
In response to concerns about fairness, the Ministry of Finance said the deal is balanced rather than a \u201czero-sum\u201d arrangement. The government\u2019s position is that Nigeria receives important infrastructure, while the UK and its partners contribute funding and also gain commercial opportunities.<\/p>\n
A major goal of the project is to reduce cargo dwell time, from the current range of 18 to 21 days to under seven days by 2026. By speeding up clearance and movement of goods, officials believe importers and exporters will face lower delays and reduced costs.<\/p>\n
The ports upgrade is also part of a broader reform plan, including Nigeria\u2019s National Single Window. This digital platform is intended to reduce port delays by streamlining paperwork, payments, and approvals that often slow down cargo handling.<\/p>\n
Overall, the government says the combined effect of physical port improvements and digital reforms will increase efficiency across the trade chain, attract investment, lower costs for businesses, and ultimately help boost government revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"
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