FG approves four new channel management firms for seaports

Nigeria’s Federal Executive Council has approved four companies to manage channels serving the country’s major ports, aiming to improve vessel navigation and port operations. Capt. Ebubeogu Ihenacho said a new company, with a name change, will manage the Lagos channel, while Calabar Channel Management Company will manage the Calabar channel; Bonny Channel Management Company will also have a change of ownership. For the Escravos Channel serving Warri, China Harbour Engineering Company and two other firms will form a consortium with the Nigerian Ports Authority through a special purpose vehicle. Sources close to the authority say a Belgian company may take over Lagos channel operations, but the new owners’ identities have not been independently confirmed.