FG To Earn $2.6bn From Badagry Deep Seaport When Operational

The Federal Government has disclosed that when operational, the Badagry Deep Seaport is estimated to generate $ 2.6 billion and create over 5, 000 jobs, directly and indirectly.

This was made known yesterday, when the Minister of Transportation, Hon. Rotimi Amaechi, received the Acting Director General, Infrastructure Concession Regulatory Commission, ICRC, Mr. Michael Ohiani who presented him, the “Full Business Case Compliance Certificate” for the Badagry Deep Seaport and the Modular Floating Dock.

Speaking on derivatives from the project, Ohiani, said the project will “create a total ecosystem in terms of shipping, transportation, job creation and others”

On the most notable attribute of the Badagry port, Ohiani, said is that it will enable the country compete favourably with the Cotonou seaport .

Meanwhile, on the dry dock which is handled by NIMASA, the revenue that will come to the Federal Government within that period is $65 million and it’s going to create a job opportunity of over 800,000″, Ohiani said.

The Transportation Minister thanked the ICRC for its diligence, noting that the presentation reflects that the project is financially viable.

He further informed that the Ministry will write to the Federal Executive Council for approval on the projects.

The event was also attended by the Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani.

Mr. Eric Ojiekwe, Director, Press and Public Relations at the Transport Ministry, revealed this information in a press statement issued today.