Hallelujah! FEC approved decade due Badagry Deep-Sea Port Development on BOOT



By Oladipo Oluwatosin


Finally the long over due Badagry Deep-Sea Port which has been abandoned for more than a decade has finally been approved by the Federal Executive  Council (FEC)  for Development.

The Badagry Deep-Sea Port is said to be the Africa’s Biggest Deep Sea Port Project to reside on soil of the giant of Africa (Nigeria).

Tolu Ogunlesi, special adviser to president Muhammadu Buhari on social media made this known via his Twitter handle today that the Federal Executive Council(FEC) today approved the Development of the Badagry Deep-Sea Port, on Build-Own-Operate-Transfer(BOOT) Public Private Partnership (PPP) Model


The Project Sum is about USD$2.594 Billion, to be Fully-financed by Private Investors within 45years concession period.


'When completed, #BadagryPort will be equipped to handle 3.9 million Twelve Equivalent Unit (TEU), 1.4 million Cars and 24 million Metric Tons of cargo annually,' tolu twitted.  

Also read this https://www.glintsight.com.ng/2022/08/crime-mappingigp-meets-strategic-police.html?m=1


Recall: Recently, the Lagos governor, Mr. Babajide Sanwo-Olu, stated that the construction on the Port would begin in June 2022 after the state is granted approval by the federal government in April. Governor Sanwo-Olu assured this after an outcry from the host communities over the alleged neglect and delay of the seaport project, an idea that was conceived over a decade ago.


He reaffirmed his government’s willingness to compensate citizens for economic losses caused by the deep seaport on buildings, ancestral grounds, farms, and places. 


Sanwo-Olu assured the people of Badagry that his regime was focused on pushing development to the Badagry axis of Lagos, speaking at the Administrative Staff College of Nigeria Auditorium in Topo, Badagry, during a stakeholders briefing and social inclusion on the Badagry Deep-Sea Port Project.


Overview of the port

The Badagry Deep Sea Port project is being executed through a public-private partnership supervised by the Federal Ministry of Transportation, Federal Ministry of Trade and Investment, and Lagos State Government, as well as a private consortium of APM Terminals, Orlean Invest, Oando, Terminal Investment Limited (TIL), and Macquarie.


The deep seaport is located in the Gberefun area of Badagry, along the Lagos-Badagry Expressway, about 55 kilometres (34 miles) west of the Apapa and Tin Can Island Port complexes.


The port is proposed to be about four kilometres of quay and 620 hectares of dedicated port facilities. It will also include facilities for handling containers, dry bulk, liquid bulk, roll-on-roll-off, and general cargo, as well as oil and gas operations support.


The port will have about 480 hectares of Industrial and Logistic Park Zone.


According to Jamoh , “Nigeria is strategically located at a significant point in the Atlantic Ocean, with about 853 kilometres coastline, which gives us a geographic advantage to become a maritime hub for not only the West and Central African region, but also the entire maritime trading world. And with over 70 per cent of cargo bound for West and Central Africa destined for Nigeria, we also have a huge commercial advantage.



Also read this  https://www.glintsight.com.ng/2022/08/abiodun-charges-southwest-principals-to.html?m=1


“The Badagry Deep Seaport, planned to be Africa’s biggest and most advanced seaport when it becomes operational, would help to maximise this extraordinary maritime potential. This is more so given the strategic place of Badagry in the region.


Turnover

The Business Case for the new Badagry Deep Sea Port envisages revenues of US$53.6 Billion over the concession period of 45 years, and the creation of more than 250,000 direct and indirect jobs. 

The project will be developed in 4 phases. #BadagryPort #infrastructure


 Reactions

@Maxwell19596943

This is the rewards for voting competent and capable governor into office , not by using hatred and bigotry to consider voting pattern.


@ Besides, proximity to other West African countries is a major factor! Also, this announcement is the final result of 8years of dilly-dallying from both state and federal govt as it should have kicked off 5years ago! Also, THERE IS NO FEDERAL GOVT PENNY on this project o!


@ Leibnez

 Hmm, Tinubu hasn’t entered office they have started borrowing from his play book. We will like to know those behind the concession company tho. Names? Board members? Give us naked information!


@Patrick Akinwuntan

Good step. Ideal infrastructure fir Badagry area. Private investors 👍. We need to speed up Rail to connect agric & manufacturing hubs to all ports to facilitate exports, reduce haulage and transportation costs including damage to & carnage on our roads. #itspossible


@Babatunde Ajose

To those of you asking "why Lagos ?".

I am from Badagry and a land owner at the Project Site so I am directly involved. The Investor(APM Tl) chose Badagry themselves bcuz it used to be the biggest Port in West African history and the proximity to the West African Market today.



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