BADAGRY DEEP SEA PORT: SHINING EXAMPLE OF LAGOS POTENTIALS – PERMANENT SECRETARY

July 13, 2023

Lagos State Government has described the proposed Badagry Deep Sea Port as a shining example of the tremendous potential Lagos holds for growth, development, innovation and a sustainable economy.


Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mrs. Adetutu Ososanya, FCA, stated this at a Stakeholders’ Meeting on the development of the Badagry Deep Sea Port organised by the Ministry in conjunction with Badagry Port Development Limited, held at Radisson Hotel, Ikeja on Wednesday.


Speaking at the meeting, Ososanya declared that the strategic and economic importance of the Badagry Deep Seaport project cannot be overemphasised, taking into consideration the quantum of investments that will spring up in the area when the project is completed.


Her words: “The Badagry Port Development Limited is expected to promote socio-economic development in the surrounding communities, particularly through Corporate Social Responsibility initiatives. The inclusive approach will ensure that the benefits of the Port extend far beyond its boundaries, creating a positive ripple effect that reaches every corner of Lagos State, Nigeria and the global economy as a whole”.


The Permanent Secretary tasked MDAs to support the project by being actively involved in the decision-making process, aligning with their respective mandates and playing their parts in line with extant laws and policies of Lagos State.

“Our collective effort is highly required for the realisation of the dream and aspiration of the Badagry Deep Sea Port, and there is a need for collaboration and synergy in the ecosystem to ensure the timely completion of the project”, she said.


Ag. Surveyor-General of Lagos State, Surveyor Ayokunnu Adesina gave a technical overview of presentations by government stakeholders, saying the entire parcel of land for the Badagry Deep Sea Port has been mapped out while resettlement lands have been provided for communities that would be displaced through the project.


“We have also processed some Certificate of Occupancies for the Badagry Port Development Limited while the Office of Surveyor-General is ready to provide any support as may be required by the organisation in respect of the project”, he added.

The representatives of Badagry Port Development Limited and Head, Government Relations, Mr. James Clinton confirmed that the Badagry Deep Sea Port is a 2.6 Billion dollar project and it would be the second largest in Africa.


“I really want to appreciate the Lagos State Government, through the Ministry of Commerce, Industry and Cooperatives and other MDAs, for the commitment and drive that have pushed the project to where it is. I am most assured, with this level of cooperation, that all possible impediments to the project would be removed for its smooth take-off”, he said.

The Community Relations Manager of Badagry Port Development Limited, Mr. Justin Okwuofu commended the people of Badagry for their cooperation as the organisation has received tremendous support from the communities.


Representatives of MDAs such as Physical Planning & Urban Development, Lands, Justice, Local Government & Community Affairs all affirmed their commitments to ensuring the timely conclusion of all processes leading to the final take-off of the project.

SmartPolician:


I think you should be more worried about herdsmen butchering your people than OBIdients crying over the proposed Lagos seaport.

tonicyril:
Pls someone should enlighten the usual and perpetual victims that FG no value say make their governors no build port for their side oh.

The way they talk u would think it's fg that is barricading their chances of having a port even when they know that its the job of their respective governors to create such.

But we'll, viktym will always be viktym and a failuree will always see excuses to defend his miserable life.






Before some people start yearning dust, a no mention name ooh, u can only quote me and yearn dust when u already believe u re the viktym.

Anyway, may badagary deep sea port favor me and my family

tonicyril:


The phuuls will tell us its the money generated from their unregistered 2by2 shops that was use to develop the port and thereby........the reason they can't situate the 2by2 in their region gone beyond imagining.

PRESS RELEASE

August 4, 2022

FEC approves concession of Badagry Deep Sea Port, targets $53bn revenue

In its quest to bridge infrastructure gap through Public Private Partnerships (PPPs) the Federal Executive Council (FEC) has approved the concession of the Badagry Deep Sea Port on a Build Own Operate and Transfer (BOOT) PPP model.

The approval by FEC followed the issuance of the Full Business Case Certificate (FBC) by the Infrastructure Concession Regulatory Commission (ICRC) in April, 2022 to the Federal Ministry of Transportation, through the Nigerian Ports Authority (NPA).

The $2.5 billion Port project which is under the regulatory guidance of the ICRC, is expected to generate over $53 billion within the 45-year concession period.

The PPP arrangement shows that the port concession will have a construction period of five years, after which operations will begin and revenue accruals will commence.

When completed, the ports will comprise: General cargo terminals, Container terminals, RoRo & Grain terminals, Offshore supply basis (OSB), Liquid Bulk jetties as well as Barge and Rail terminal.

The port will be equipped with the capacity to handle 3.9 million Twelve Equivalent Units (TEUs), 24 million metric tons of cargoes and 1.4 million cars annually.

The port will also have a navy berthing facility as well as utilities such as road fly-overs, rail and public roads.

The state-of-the-art multi-purpose facility will offer its customers superior uncongested hinterland connectivity and one of the deepest water in West Africa, thus creating a sustainable competitive advantage for Nigeria going forward.

Beyond increasing government revenues, the port will also facilitate foreign investment, reduce congestion within Lagos ports of Apapa and Tincan Island, improve cargo clearance and delivery process, reduce vessel waiting time and enhance competitiveness of the Nigerian economy by reducing transportation costs and freight rates.

The project is now ready to proceed to commercial close – signing of agreement between the concessionaire and the Federal Government and relevant agencies, with the ICRC witnessing the agreement signing and taking custody of the concession agreement.

After the Commercial close, the project will then proceed to financial close. END.

Signed:

Manji Yarling

Ag. Head, Media and Publicity

omenka:
Dear Obidients, please don't cry over this.

Thanks for your anticipated compliance.

001Lagos:

When was the last time that you visited your grave yard of a state in benue?

You're in Lagos supporting the APC Fulani herdsmen killing and dismembering the body parts of your benue brothers and sister like they are kitchen..

Do you still remember the road to your village 😂

I will be visiting south east maternal home in few days time. Can you step foot in benue state anytime soon without being killed like a chicken 🐓 😂