The Infrastructure Concession Regulatory Commission, ICRC says the Federal Government is expected to generate over five billion naira through the fisheries coastal terminal concession project currently being finalised. The project will create jobs and boost foreign exchange earnings among other benefits to the economy.
Acting Head, Media and Publicity of the commission Manji Yarling in a statement said project targets to boost fish exports, and ensure the rehabilitation and upgrade of the terminal and operation of fishing trawlers.
The Federal Executive Council, FEC had last week approved the rehabilitation of the Federal Fishery Coastal Terminal in Ebughu Mbo Local Government Area of Akwa-Ibom State as proposed by Federal Ministry of Agriculture and Rural Development and domiciled therein.
The statement added that the brownfield project is to be carried out using the Finance, Rehabilitate, Operate, and Maintain Public-Private Partnerships PPP Model with Messrs Alfin Fisheries Limited as the concessionaire.
The move is part of the federal government’s efforts towards economic diversification, food security, and foreign exchange earnings among other benefits.
