Finance

FG says Badagry Deep Seaport to generate $2.6 billion, create 5,000 jobs.


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 jobs.

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

What the FG is saying

While presenting the Full Business Case Compliance Certificate, for the Badagry Deep Seaport and the Modular Floating Dock to the minister, Mr Micheal Ohiani said the Badagry Seaport is estimated to generate about 2.6 billion dollars and create about 5,000 direct and indirect jobs when it becomes operational.

He added that the deep seaport project is also expected to 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.

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

In case you missed it

  • Nairametrics reported earlier that Nigeria’s Bureau of Public Enterprises (BPE)  invited investors for the Submission of Response To Request for Qualification (RFQ) for the Concession of the Calabar and Kano Free Trade Zones. The Concessions are expected to last a minimum of 25 years.
  • The Calabar FTZ was established in 1992 after the promulgation of the NEPZA Act No.63 of 1992, and is owned and managed by the FG at the Port of Calabar.
  • The Kano FTZ, is the second FTZ wholly owned by the FG, with a land size of 262 hectares, between the Fagge LGA and Ungogo LGA, established in 1994, following a Presidential decree, and converted fully to a FTZ from an EPZ in 2001.



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