First Barge in 2025 Arrives at Onitsha River Port, Sparking Economic Hopes
A barge laden with tiles from Ajaokuta, Kogi, has arrived at the Onitsha River Port, marking the first such vessel in 2025. This event has sparked optimism about the port's potential to ease pressure on Lagos and other ports, and boost the economy. However, challenges persist that hinder its full operation.
The Onitsha River Port, when fully functional, could save money, reduce road congestion, and generate up to N100 billion annually. Its manager, Mr Martins Osazuwa, estimates it could bring in N10 billion annually. The arrival of the barge is seen as a success story that could encourage more companies to use the port, cutting their transportation costs.
Challenges facing the port include insecurity, low patronage, and delays in dredging the River Niger. The presence of militant youths and pirates also poses a threat to its smooth operation. Mr Osazuwa urges the federal and state governments to provide incentives to attract more patronage and to dredge the port to ease movement of goods. The Nigerian government has provided guidelines to invest in the port to achieve its full operational capacity.
The Onitsha River Port, dubbed the 'golden egg' of the eastern region, has the potential to significantly contribute to the economy. The arrival of the barge signals a step in the right direction, but addressing the challenges will be crucial for the port to reach its full operational capacity and generate the expected revenue.
Read also:
- Tony Hawk's Memorabilia Auction Raises Record $1.2M for Skatepark Project
- Customs Raid in Germany's Hotel Industry Finds 12 Illegally Present Workers
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- MIH Consortium Chooses BlackBerry for Next-Gen EV Platform
