Infrastructure Concession Regulatory Commission Says Badagry Deep Seaport To Generate $2.6b

The Federal Government said the Badagry Seaport would generate about $2.6 billion and create 5,000 direct and indirect jobs when operational.

Mr Micheal Ohiani, the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), said this when he led a team to visit the Minister of Transportation, Rotimi Amaechi, in Abuja, Nigeria’s seat of power.

Ohiani also presented the Full Business Case Compliance Certificate, for the Badagry Deep Seaport and the Modular Floating Dock to the minister.

He said the proposed port would create a total ecosystem in terms of shipping, transportation, job creation amongst others.

He said one of the most notable attributes of the Badagry port was that it would enable the country 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 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.

Badagry Deep Seaport will be the second in the state after the Lekki Deep Seaport, projected to be inaugurated in 2022.