FG says Badagry Deep Seaport to generate $2.6 billion, create 5,000 jobs

The Federal Government in its continued push to concession seaports revealed that the Badagry Deep Seaport when operational will generate the sum of $2.6 billion and create 5,000 jobs.

This was disclosed by Mr Micheal Ohiani, the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC) in a meeting with the Minister of Transportation, Rotimi Amaechi, on Wednesday in Abuja.

This comes after the implementation of the Lekki FTZ, which also contains the Lekki Deep Seaport, expected to aid exports and imports with 2.7 million TEUs per annum.

While presenting the Full Business Case Compliance Certificate, for the Badagry Deep Seaport and the Modular Floating Dock to the minister, Mr Micheal Ohiani said the Badagry Seaport is estimated to generate about 2.6 billion dollars and create about 5,000 direct and indirect jobs when it becomes operational.

He added that the deep seaport project is also expected to create a total ecosystem in terms of shipping, transportation and jobs and compete with the Cotonou 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 Transport Minister, Amaechi stated that the Ministry will write to the Federal Executive Council for approval of the deep seaport project.