BUA Group says it is investing over $65 million—entirely self-funded—to reconstruct Terminal B of the Rivers Port Complex, with completion expected in the first quarter of 2026.
The company made this known in a statement released on Sunday while responding to recent claims by former Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, who alleged that BUA breached the terms of its concession agreement at the terminal.
According to BUA, the ongoing reconstruction followed formal approval granted in 2022, after the NPA, under new leadership, implemented a directive from the Attorney General of the Federation (AGF).
The contract for the rehabilitation was awarded to Italian engineering firm TREVI.
The company stated that the investment is being carried out without public funds or government subsidies.
“Following Ms. Usman’s removal from office, the NPA, under new leadership, implemented the AGF’s position. In 2022, BUA was granted formal approval to resume reconstruction works. The contract was awarded to TREVI, and BUA has since invested over $65 million—entirely self-funded and with no recourse to public funds or subsidies. Work is ongoing and completion is expected in the first quarter of 2026,” the statement read in part.
The dispute dates back to June 2019 when the NPA, led by Hadiza Bala Usman, declared berths 6 and 7 of Terminal B unsafe and directed BUA to halt operations. BUA, through its subsidiary BUA Ports and Terminals Ltd, challenged the directive, citing a valid concession agreement and a subsisting court injunction.
Despite the pending legal process, BUA alleged that the Hadiza-led NPA proceeded with decommissioning the facility, which it said violated due process and undermined investor confidence.
In early 2020, following direct intervention by BUA Chairman Abdul Samad Rabiu with then-President Muhammadu Buhari, the matter was escalated to the AGF, Abubakar Malami (SAN).
In a letter dated June 1, 2020, Malami referenced a presidential directive instructing the NPA to withdraw its termination notice, reverse the decommissioning, and reopen the terminal. He also urged both parties to discontinue arbitration and resolve the matter amicably.
Since then, BUA said it has committed over $1 billion in new investments across key sectors, citing greater confidence in Nigeria’s business environment under the current administration.