PROJECT CARGOWEST AFRICA


The challenge of unrest and low prices


Chris Lewis considers some of the challenges facing the West African region which has been blighted by civil unrest and low commodity prices.


il and gas has been the mainstay of the West African economy for several decades, particularly in Nigeria. The petroleum industry remains critical to its economy but unrest in the Niger Delta – the main oil producing region – needs to be addressed. The government aims to stabilise the region during 2017 and restore production to the current maximum of 2.2 million barrels per day. Nigerian President Muhammadu Buhari


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plans to increase exploration in the Lake Chad area, boost local refining capacity, develop a national gas pipeline and privatise state-owned enterprises in the sector. Nigeria’s transport minister, Rotimi


Amaechi, told an investment forum in London, UK, that road infrastructure investment is key to reducing the country’s oil dependence. Nigeria has deposits of minerals like tin,


60 January/February 2017


iron and zinc, but badly needs better transport infrastructure if it is to unlock these riches.


Rail spend China has been the main backer of transport infrastructure schemes in Nigeria – mainly railway projects – and work is ongoing on a new standard gauge line between Lagos and Kano. A total of USD570 million will be invested in the railways in Nigeria in 2017,


We are very hopeful that these plans [to keep the Niger dredged] will succeed as we are getting more and more cargoes into the hinterland connections. – Harald Maas, UAL Netherlands


Amaechi told the forum, adding that ports are also attracting investment, including Lekki Port near Lagos. “Chinese interests are also willing to build a deepsea port in Warri, and also another in Baro,” he said. DP World is in talks to build a port in an


as yet unspecified area of the country, Amaechi added. Nigerian ports have suffered from decades of under-investment. With the exception of private facilities, such as those operated by Intels at Onne, most can only handle small ships and have rudimentary cargo handling equipment. Amaechi said infrastructure must be


funded by the private sector, but Nigeria faces the challenging task of persuading overseas investors that the country’s endemic problems, such as compliance and corruption, are consigned to the past. Nigeria has a long way to go before


overseas firms are comfortable that the country is a stable place in which to do business, he added.


Navigable waterways Nigeria is a country of great rivers. Boss Gida Mustapha, managing director of the National Inland Waterways Authority, said


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