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Thursday, March 30, 2023

Deep Seaport Project Will Create 5,000 Jobs, Generate $2.6 billion – ICRC

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By Abdulwaheed Olayinka Adubi

The Federal Government has disclosed that the Badagry deep seaport project is expected to create a total ecosystem in terms of shipping, transportation and jobs.

This is as the Federal Government continued in its push to concession seaports, disclosing that the Badagry Deep Seaport when operational will generate the sum of $2.6 billion and create 5,000 jobs.

This was made known by the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr Micheal Ohiani during a meeting with the Minister of Transportation, Rotimi Amaechi, on Wednesday in Abuja.

While presenting the Full Business Case Compliance Certificate, for the Badagry Deep Seaport and the Modular Floating Dock to the minister, 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.

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“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 explained.

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

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