FEC okays development of $2.59bn Badagry deep seaport


The federal executive council has approved $2.59 billion for the development of Badagry Seaport under a Private-Public-Partnership (PPP) arrangement.

This was made known by the minister of transportation, Mu’azu Sambo, while he was briefing newsmen after the federal executive council meeting on Wednesday.

Sambo explained that the port would be operated for 45 years by the developers, after which Nigerians would take over.

He says this is to further the government’s efforts in turning the country into a maritime hub adding that the project would provide about 200,000 jobs while generating a revenue of $56 billion.

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