The Federal Government has approved four new channel management companies to oversee shipping channels serving some of Nigeria’s major seaports, in a move aimed at improving vessel navigation, maritime safety and operational efficiency.
The approval by the Federal Executive Council (FEC) was disclosed by Capt. Ebubeogu Ihenacho, a former General Manager of Marine and Operations at the Nigerian Ports Authority (NPA), during the Annual General Meeting of the Nigerian Association of Master Mariners.
According to Ihenacho, the new arrangement will introduce changes in the ownership and management of the Lagos Channel Management Company Limited and the Bonny Channel Management Company, while establishing a dedicated management structure for the Calabar Channel.
He explained that a new company had been approved to manage the Lagos port channel under a different name, while the Calabar Channel would be managed by the Calabar Channel Management Company. The Bonny Channel Management Company has also undergone a change of ownership.
For the Warri port corridor, the Federal Government approved China Harbour Engineering Company (CHEC) and two other companies to form a consortium to manage the Escravos Channel.
The consortium is expected to establish a Special Purpose Vehicle (SPV) in partnership with the Nigerian Ports Authority to oversee operations along the channel.
Although the identities of the new owners of the Lagos and Bonny channel management companies have not been independently confirmed, sources close to the NPA indicated that a Belgian company was expected to take over channel management operations at the Lagos ports.
The development follows the NPA management’s decision not to renew the existing concessions held by the Lagos Channel Management Company Limited and the Bonny Channel Management Company. Instead, the authority granted six-month extensions to the existing arrangements.
The new management structure is expected to support safer movement of vessels, improve the efficiency of port operations and strengthen the management of shipping channels serving Nigeria’s maritime industry.
The approval marks a significant change in the administration of key port channels, which play an important role in facilitating maritime trade and the movement of goods into and out of the country.
