The federal government says the Badagry seaport is estimated to generate about $2.6 billion and create 5,000 direct and indirect jobs when operational.

Michael Ohiani, the acting director-general of the Infrastructure Concession Regulatory Commission (ICRC), disclosed this when he led a team to visit the Minister of Transportation, Rotimi Amaechi, on Wednesday in Abuja.

Mr Ohiani also presented the Full Business Case Compliance Certificate for the Badagry Deep Seaport and the Modular Floating Dock to the minister.

Speaking on derivatives of the projects, Ohiani said it would create a total ecosystem in terms of shipping, transportation, and job creation, amongst others.

He added that one of the most notable attributes of the Badagry port was that it would enable the country to compete favourably 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,” Mr Ohiani said.

Responding, Mr Amaechi thanked the ICRC for its diligence, noting that the presentation reflected that the project was financially viable.

Mr Amaechi further informed that the ministry would write to the Federal Executive Council for approval on the projects.

The Badagry deep seaport will be the second in Lagos after the one in Lekki, projected to be inaugurated in 2022. 

(NAN)