A statement by Gboyega Akosile, Chief Press Secretary, to governor Babajide Sanwo-Olu, said the approval, which was given at the just concluded Lagos State Economic Summit (Ehingbeti 2022), authorises and provides the 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 last April.
The statement indicated that the $2.5 billion project would be funded through Public-Private Partnership.
It further said it would be built on approximately 496 hectares, would have 2,470m quay length container terminal, 560m quay length break bulk terminal, 360m quay length OSB terminal and minimum of 18m depth and is expected to generate 250,000 direct jobs, enhance government revenue and operate under a build, operate and transfer concession agreement.
Speaking on the development, Sanwo-Olu said the Seaport would boost Lagos State’s logistics and commerce capability.
Sanwo-Olu also signed also a Memorandum of Understanding with Siemens Energy Limited and German-owned Deutsche Gesellschaft für Internationale Zusammenarbeit to set up an Energy Training Centre of Excellence at the Government Technical College in Ikorodu.
