Tuesday, November 29, 2022
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HomeBusinessFG targets $2.6b from badagry seaport when operational

FG targets $2.6b from badagry seaport when operational

By Naomi Douglas

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

In a statement single by the Director Press and Publicity of the Ministry ,Eric Ojiekwe, said “This was made known earlier today when the Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, received in courtesy, 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 and the Modular Floating Dock.”

Speaking on derivatives of these projects, Ohiani, said the project will “create a total ecosystem in terms of shipping, transportation, job creation and others” Most notable attribute of the Badagry port, Ohiani, said is that it will enable the country compete favourably with the Contonou seaport .

In respect of 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 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.

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