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Five Business Moguls to Spend 3.7bn On Oguta Port in Imo State

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About N3.7 billion is to be invested in the Oguta Lake Port in Imo State by five companies doing business in the South-East geo-political zone. A breakdown of the sum indicates that N2 billion would be used to revive non-functional companies that would be relying on the Oguta Port which would serve as a haulage base for the companies.

Also, the sum of N1.7 billion would be expended on clusters of allied firms to help encourage trade and commerce at the port. Disclosing this at a birthday celebration in honour of the Managing Director of National Inland Water Ways, Chief George Mughalu, the Coordinator of George Mughalu Fans, Pastor Ben Nduka, said it was payback time for Moghalu, who had impacted positively on the people of the state.

He said: “We wish to congratulate our brother Chief George Mughalu, the MD of NIWA for the reviving of the Oguta Lake Port and as a result of this development about five companies are currently investing over N3.7 billion in providing basic facilities and reviving some dead companies to sustain the port. “We also know that he has gubernatorial ambition and with what he is doing in NIWA, it is a testimony of the fact that he is offering himself to serve.”

Nduka, however, urged the Federal Government to continue to give NIWA all the necessary support and assistance towards ensuring that Mughalu delivers on his mandate as expected. He further urged South- East business men and women to exploit the opportunity provided by both the Onitsha River Port and Oguta Lake Port in patronising the facilities.

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