FG projects $2.6bn revenue from Badagry seaport when operational

April 28, 2022

The Federal Government says the Badagry Seaport is estimated to generate about 2.6 billion dollars and create 5,000 direct and indirect jobs when operational.

Mr Micheal Ohiani, the Acting Director-General, Infrastructure Concesion Regulatory Commission (ICRC), said this when he led a team to visit the Minister of Transportation, Rotimi Amaechi, on Wednesday 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, job creation amongst others.

He said one of the most notable attribute of the Badagry port was that it would enable the country compete favourably with the Contonou seaport .

“In respect to 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.

Responding, Amaechi thanked the ICRC for its diligence, noting that the presentation reflected that the project was financially viable.

Amaechi further informed that the Ministry would write to the Federal Executive Council for approval on the projects. (NAN)