Maritime

Sanwo-Olu receives concession document for $2.5 billion Badagry Deep Seaport 

Sanwo-Olu receives concession document for $2.5 billion Badagry Deep Seaport 

…project to create 250,000 direct jobs
Lagos State Governor, Mr. Babajide Sanwo-Olu on Thursday received the approval to build the Badagry Deep Seaport, Badagry in Lagos state..
Recall they the deep seaport project was approved by the Federal Executive Council (FEC), last August.
The approval has now authorisef and provided legal basis for the concession of the Badagry Deep Seaport, following the issuance of the Full Business Case Certificate by the Infrastructure Concession Regulatory Commission (ICRC) last April.
The $2.5 billion project, which will be funded through Public Private Partnership (PPP), will be built on approximately 496 hectares.
It will have 2,470m quay length container terminal, 560m quay length break bulk terminal, 360m quay length OSB terminal and minimum of 18m depth.
It is expected to generate 250,000 direct jobs, enhance Government revenue and operate under a Build Operate and Transfer (BOT) concession agreement.

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