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FG targets $2.6bn annual revenue from proposed Badagry seaport

The Infrastructure Concession Regulatory Commission (ICRC) has said that the Badagry Seaport would generate about $2.6 billion and create 5,000 direct and indirect jobs when it becomes operational.

 

The Acting Director-General of ICRC, Mr. Micheal Ohiani dropped this hint when he led a team on a visit to the Minister of Transportation, Rotimi Amaechi in Abuja.

 

Ohiani also presented the Full Business Case Compliance Certificate, for the Badagry Deep Seaport and the Modular Floating Dock to the minister. Speaking on derivatives of the projects, Ohiani said it would create a total ecosystem in terms of shipping, transportation, and job creation among others.

 

He said one of the most notable attributes of the Badagry Port was that it would compete favourably 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 huge job opportunity for Nigerians”, Ohiani said.

 

Responding, Amaechi thanked the ICRC for its diligence, noting that the presentation reflected that the project was financially viable. Amaechi further said that his ministry would write to the Federal Executive Council for approval on the projects.

 

The Badagry Deep Seaport will be the second in the state after the one in Lekki, slated to commence operation this year.

 

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