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BADAGRY SEAPORT TO GENERATE $2.6B, CREATE 5000 JOBS -FG

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 direct and indirect jobs.

This was disclosed by the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC) Mr Micheal Ohiani, 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.

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

The Transport Minister, Amaechi stated that the Ministry will write to the Federal Executive Council for approval of the deep seaport project

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