China To Invest $250 Million On Ibadan Dry Port

The Ibadan Inland Dry Port is to be sited at Olorisa-Oko village in Moniya area of Ibadan, and is at the terminal end of the ongoing Lagos-Ibadan standard gauge railway line.

The capacity of the Ibadan Inland Dry Port is estimated to be 20,000 tons, and is meant to shed off the usual congestion at Apapa port averaging 7,500 trucks and tankers each day.

The dry port upon completion would among others create employment, boost the economy of the state, expand the city, decongest the seaport and ease traffic congestion.

The chairman of China Railway Construction Corporation Limited (CRCC), Mr. Fenjian Chen, has revealed plans to invest in a dry port in Ibadan, Oyo state, in a bid to decongest the Lagos port and speed up clearance of goods.

According to Mr. Chen, the projects undertaken by the company has 18,000 local employees and hopes to create about 40,000 jobs and help Nigeria shore up its infrastructures.

Mr. Chen with other Chinese delegates paid President Muhammadu Buhari a visit in Abuja. He revealed their intention during the course of the meeting.

“The sum of $250 million dollars will be invested on a dry port in Ibadan, Oyo State, and it will decongest the ports in Lagos, and speed up clearance of goods by the Customs Service.

“Part of projects CRCC is undertaking includes railway, dry port, free trade zone, and building of highways. About 40,000 more jobs are to be created from these.”

Mr. Chen revealed the projects undertaken by the company has 18,000 local employees and hopes to create about 40,000 jobs and help Nigeria shore up its infrastructures.