Other major investment opportunities
In addition to these, Government also designated Kirikiri Lighter Terminal II as a fishery terminal and negotiations are on-going between the Government and some investors for the development of the fishery terminal.
The Onne Oil and Gas free trade located in Rivers state was established by Government Act No 8 and issued on the official Gazette No 12 on the 29th of March, 1996 is a tax fee centre for processing, manufacturing and assembly of goods 35% is fully developed while 65% is undeveloped. Opportunities exist for building petrochemical industries, residential/ancillary facilities for the oil and gas clienteles, Tourism development facilities and local manufacturing of pipes to support the oil industry.
The Tarkwa bay and Ogogoro Islands in Lagos is situated on 400 hectares of land space suitable for Port development, residential facilities, Tourism, Ship construction and Ship Bunkering.
To cater for the growing need of Power in the Port industry, opportunities abound for independent Power generation, transmission and distribution.
The Lekki free trade zone promoted by Lagos State Government in collaboration with a consortium of Chinese companies will require investors to take up building dedicated power plants, water treatment plants sewage plants and industrial development. All of these will enjoy Tax holiday, 100% foreign ownership and 100% profit repatriation.
The governments of Ogun and Ondo States are working on the OLOKOLA LNG. The project is located at the Olokola Free trade zone covering an approximate area of 10,000 hectares. It will handle the processing of gas and exportation of condensates.
To ensure a comprehensive approach, a detailed and all encompassing Port development Master plan is being conceived by the Nigerian Port Authority. A consultant has forwarded its recommendation for consideration.
Since the concession of the terminals, statistics have shown that there has been a general improvement in the performance of Nigerian ports, while cargo throughput has also soared.
Ship traffic has increased tremendously; cargo throughput has also significantly improved, with turn-around-time of vessels coming down to 72 hours on average in most of the terminals
Recently, and in line with the vision of ensuring dynamism in the organization, the immediate past Managing Director, was appointed, with a clear mandate to reposition the organization; especially since the port concession programme has taken a firm position and has also become a huge success.
Specifically, the new Managing Director has the mandate to work towards the implementation of the master plan to develop Greenfield Seaport Terminals and to further expand port infrastructures that will support the huge inflow of cargo into the country.