The development of Badagry deep seaport will be a game-changer in the nation’s maritime sector, as it will help to rescue Nigerian lost cargoes from the neigbouring countries.
The port upon its completion will position Nigeria to become the maritime hub of the West and Central Africa sub-region and boost the nation’s economy.
The Full Business Case Compliance Certificate for the seaport was issued by the Infrastructure Concession Regulatory Commission (ICRC) in 2022, while the Federal Executive Council approved the development of the project on a Public Private Partnership (PPP) in the same year.
Then, the approval was finalised following a presentation by the Federal Ministry of Transportation at the Federal Executive Council (FEC) weekly meeting presided over by President Muhammadu Buhari in Abuja.
The announcement was a welcome development by the Lagos State Government and the people of Badagry especially the 13 communities living around where the deep seaport would be sited.
The actualization of the $$2.59 billion deep seaport will attract foreign direct investment due to its natural depth, create nothing less than 250,000 jobs and is expected to generate $53.6 billion revenue over the 45 years concession period.
The former Minister of Transportation, Mu’azu Jaji Sambo announced that the private sector would inject money for the development of the port and at the end of the concessionary period, the port reverts to the Federal Government of Nigeria through the Nigerian Ports Authority (NPA).
According to him, it will create about one quarter million jobs and also attract foreign direct investments to the country and help in improving Nigeria’s economy in general and the wellbeing of Nigerians
It was learnt that when fully built, the deep-water full-service port will be one of the largest in Africa with 7km of quay and 1,000 hectares (2,470 acres) of dedicated yard, and will include state-of the art facilities for container, bulk, liquid bulk, Ro/Ro and general cargo as well as oil and gas operations support and a barge terminal.
Plans for the adjoining Badagry Free Trade Zone will include a power plant, oil refinery, industrial park and warehousing and Inland Container Deport functions.
The Badagry consortium partnership is comprised of APM Terminals, Orlean Invest, the Macquarie Group, Oando, the Chagoury Group and Terminal Investment Limited.
The port will have a navy berthing facility, road fly-overs, rail and public roads, and one of the deepest waters in West Africa.
However, the Lagos State Government has thrown its full support for the project because the plan to begin construction of the seaport, which will be hosted by 12 communities in Badagry, came after 10 years of conceiving the idea in 2012, during the administration of former Governor Babatunde Fashola.
This is even as Governor, Babajide Sanwo-Olu, described the Badagry Deep Seaport Project as not just one project but a multi-level opportunity for progress for all the people of the state, given the volume of trade and quantum of investment opportunities that would spring up in the area when the project commences, and when it is completed and operational.
The responsibility to make the deep seaport come into fruition has been transferred into the Ministry of Marine and Blue Economy under the supervision of the Minister, Adegboyega Oyetola. Before now, it was Federal Ministry of Transportation that was in charge of the project. As maritime sector has a new supervising ministry, the responsibility has been transferred to the ministry.
In a recent meeting with the Chief Executive Officer of the Badagry Port Development Limited, Didi Ndiomu, the Minister said that the ministry is ready to facilitate the process that would lead to the realisation of the project.
Oyetola stated that the project portends immense potential to the Federal Government as it aligns with President Bola Tinubu’s objectives.
“The ministry’s policy is tailored in line with the President’s agenda, and so the ministry will do whatever it can to help achieve the Badagry Deep Sea project,” Oyetola said.
The minister said he has met with some interested investors, both local and international, to invest.
He appreciated the efforts of the company and applauded them for their hard work as they have overcome a lot of obstacles and come this far.
However, Ndiomu, has said that the $2.59 billion Badagry Deep Seaport project is presently in its second phase, which is the implementation and sourcing of strategic financial partners. He added that the project is divided into four phases.
Giving more details, Ndiomu explained that the proposed deep seaport, when completed alongside the Agge Port in Bayelsa, is the only natural port in the country.
“The project, which is divided into four phases, is presently in the second phase, which is the implementation and sourcing of strategic financial partners,” Ndiomu said.
According to him, the natural depth is not man-made, “hence, no extra costs of sustaining the depth should spur investors to buy into this initiative.”
He further charged the Federal Government to take a lead role in the drive to boost the investors’ confidence in the project.
Ndiomu also urged the government to reassure the international community of the government’s commitment to the infrastructural development of Nigeria, given the current Nigerian Economic situation and the uncertainties of the currency fluctuations.
Stakeholders who spoke with Daily Sun said that the deep seaport is very important because some vessels can’t come in because of the depth of the sea.
A clearing agent at Seme border, Rufus Adio, said that if government can facilitate the project by ensuring that it does not become an abandon project, it will create more jobs for those cabbage small vessels and seafarers in the country. So,
“The reasons that can stall the projects may be finance and political interest. Some politicians would be asking why they didn’t come to do it in my area. Let them put their interest aside and consider the interest of the nation by ensuring that they support the actualization of the project,” he said.
He said the Badagry deep seaport will help Nigeria to boost both its import and export within the West and Central African countries and internationally, saying the port will help to rescue the Nigerian lost cargoes to the neigbouring countries.
Meanwhile, Mr. Alfred Hunpee, an indiegene of Badagry, said that the project is welcome development because it will create jobs for the youths in Badagry environs and entire Lagos state.
“We need more projects like this seaport in all the communities. More projects like this will take youths out of streets and social vices while employment and capacity building for the teeming youth in the communities will be guarantee.
“When the project fully operational, it will boost the fortunes of the people of Badagry but, also transform the entire economy of our state and that of the entire West African sub-region,” he said.
