CFCfan: eko ilee has been taken to the cleaners.
*He might say I'm part of the "40 laptop crew", or a 'retardeen'*

otokx: Its good to see that people are now recognizing the lies being told by our thieving politicians.

otokx: Its good to see that people are now recognizing the lies being told by our thieving politicians.

manny4life:

You can see for yourself na, now it's OP adding an extra zero...

Now u see why I called it COMEDY CENTRAL

Don't worry, as soon as we press further, another zero will be deducted

Lagos, Nigeria – APM Terminals and its consortium partners have announced plans to develop a new greenfield mega-port project and Free Trade Zone at Badagry in Nigeria’s Lagos State, 55 km (34 miles) west of Apapa and the Port of Lagos on the Benin-Lagos Expressway. At full build-out, the deep-water full-service port will be one of the largest in Africa with 7 km of quay and 1,000 hectares (2,470 acres) of dedicated yard, and will include state-of the art facilities for container, bulk, liquid bulk, Ro/Ro and general cargo as well as oil and gas operations support and a barge terminal. Plans for the adjoining Badagry Free Trade Zone will include a power plant, oil refinery, industrial park and warehousing and Inland Container Deport functions. The first phase of the project is scheduled to open in 2016.

“We are actively working with state and federal governments on the permission process” stated APM Terminals Africa-Middle East Regional CEO Peder Sondergaard, adding that “the Nigerian Ports Authority, Lagos State and the Nigerian federal Government have been supportive and positive”.

Earlier this year, Nigerian Minister of Transport, Senator Idris Umar, cited the proposed Badagry Port project as an example of a public-private partnership development which would help to address congestion and establish Nigeria as a maritime trading hub for West and Central Africa during his keynote address at the 12th Maritime Seminar for Judges in Abuja in June. The Benin-Lagos Expressway is currently being upgraded to a 10-lane highway which will facilitate cargo movements to and from inland destinations in the region.

APM Terminals is currently one of the largest port and terminal operators in Africa, and in West Africa in particular, where APM Terminals Global Terminal Network include nine facilities in eight West African nations, including Apapa Container Terminal, and West Africa Container Terminal in Onne, Nigeria. APM Terminals Apapa, which assumed operations at Lagos’ Apapa Container Terminal in 2006, is now the busiest container terminal in West Africa, handling 600,000 TEUs in 2011, with throughput for 2012 projected to be 720,000 TEUs. Equally important, shipping lines and African shippers have seen significant improvements to supply chain reliability and cost savings.

Industry analysts have predicted that Nigerian container volume, which totaled 1.4 million TEUs in 2011, will outstrip existing port capacity by 2017. At present, approximately 85% of all Nigerian non-oil cargo passes through the Port of Lagos. Over the next three decades, Nigerian annual container traffic is expected to grow to 10 million TEUs.

With 170 million people, Nigeria is the largest country in Africa by population, and the 7th-largest worldwide. By 2050, the UN has forecast that Nigeria’s population will have risen to 289 million, following only India, China, the USA and Pakistan in global population ranking. Lagos is the 2nd-largest city in Africa (after Cairo) with a population of 10.2 million, and is home to an estimated 60% of Nigerian manufacturing. The Nigerian economy, the 2nd-largest in sub-Saharan Africa after South Africa, driven by oil exports, has been forecast by the International Monetary Fund to expand by 7.1% in 2012 and 6.7% in 2013.

The proposed Badagry Mega-Port project fits well into APM Terminals’ strategy of infrastructure development in targeted high-growth markets. Current new terminal and port expansion projects and investments include Moin, Costa Rica; Callao, Peru; Santos, Brazil; Ningbo, China and Poti, Georgia. The Badagry consortium partnership is comprised of APM Terminals, Orlean Invest, the Macquarie Group, Oando PLC, the Chagoury Group and Terminal Investment Limited. Support for the project has also been expressed by the Nigerian Ports Authority, and the Governor of Lagos State.

Rossikk: With that $200 billion, Lagos will become by far the most modern and advanced city in all Africa, beating Johannesburg, Cairo, and Cape Town hands down. It would become among the top cities in the world, mentioned alongside the likes of New York City, Tokyo, Beijing, and Paris.

eko ilee:


Mr. Haresh Aswan is your thieving politicians? Do you people have brains at all?

jude33084:

And you think he is the owner of that project?

pappy2000: How can One buy cheap Land in that Area

eko ilee: NL illiterates at it again...lmao

Obviously, they are talking about the value of cargo business moving through the port which is not unrealistic since it's going to be serving multiple countries.

turawafett: only one question i have to ask, how many years will it take the generate the over $200 billion. i did not read anyway that it will be generated within a year.

pappy2000: How can One buy cheap Land in that Area

Gbawe:

Correct. You ask precisely the right question. How long is the concession period over which the $200 billion target is based upon? Why can posters here, on either side of the debate i.e feasible or otherwise, not simply establish this critical fact before they begin attempting to speak conclusively?

Secondly, the utterance of the Managing Director of the Lagos Free Trade Zone, Mr. Haresh Aswani, may have been misunderstood by many. He stated and I quote:

http://www.theheraldng.com/200-billion-internal-revenue-expected-from-lekki-port-by-2016/

"on completion by 2016, the project would contribute to the internally generated revenue of Lagos state some $200 billion and will create about 163, 000 new jobs."

Obvious that any estimate is not exclusive to the direct earning of Port operations alone but also to so many other linked State income generation consideration such as the taxes to be paid to Lagos by thousands of newly created jobs, business levies, tourism, etc, etc.

The Lekki deep sea port is conceded for 45 years which means the $200 billion estimated accrual to Lagos state government is expected over that period from direct and indirect activities connected to the operation of the Port. I.e over $4 billion a year, over 45 years, will accrue to Lagos through the direct and many connected considerations arising from the operation of the Lekki deep sea port. Optimistic in my opinion but not unrealistic or fraudulent.

pappy2000: How can One buy cheap Land in that Area

Zechy09: Can you see the reason many people don't take politics section serious and assume it is a place to defend your political affiliation instead of defending the truth.
You always criticize GEJ all the time and i thought you were an "Objective Nigerian" standing up for the truth, i didn't know you are just an ACN apologist.
This is a blatant lie and there is no way to justify the lie. Even if it is for a period of 70yrs, it will still be a BIG lie!
I expect people irrespective of their political affiliation to say the truth at all times and NOT speak the truth when it is GEJ and lie when it is opposition.

My two cents.

Zechy09: Can you see the reason many people don't take politics section serious and assume it is a place to defend your political affiliation instead of defending the truth.
You always criticize GEJ all the time and i thought you were an "Objective Nigerian" standing up for the truth, i didn't know you are just an ACN apologist.
This is a blatant lie and there is no way to justify the lie. Even if it is for a period of 70yrs, it will still be a BIG lie!
I expect people irrespective of their political affiliation to say the truth at all times and NOT speak the truth when it is GEJ and lie when it is opposition.

My two cents.

Zechy09: Can you see the reason many people don't take politics section serious and assume it is a place to defend your political affiliation instead of defending the truth.
You always criticize GEJ all the time and i thought you were an "Objective Nigerian" standing up for the truth, i didn't know you are just an ACN apologist.
This is a blatant lie and there is no way to justify the lie. Even if it is for a period of 70yrs, it will still be a BIG lie!
I expect people irrespective of their political affiliation to say the truth at all times and NOT speak the truth when it is GEJ and lie when it is opposition.

My two cents.

Zechy09: Can you see the reason many people don't take politics section serious and assume it is a place to defend your political affiliation instead of defending the truth.
You always criticize GEJ all the time and i thought you were an "Objective Nigerian" standing up for the truth, i didn't know you are just an ACN apologist.
This is a blatant lie and there is no way to justify the lie. Even if it is for a period of 70yrs, it will still be a BIG lie!
I expect people irrespective of their political affiliation to say the truth at all times and NOT speak the truth when it is GEJ and lie when it is opposition.

My two cents.

djon78: Today I found out the Intelligence level of eko ile is sub standard, infact he is a stark illiterate, am really dissapointed. This news shows the level of intelligence of these guys laundring this propaganda, nothing upstairs and these are the people ruling us, ah its a very big shame.

They should know that the academic and exposure level of some of us on this forum is top notch, world class and that we can see through their lies, because brainwise they be serious olodo

djon78:

hey should know that the academic and exposure level of some of us on this forum is top notch, world class