The Badagry Port Development Ltd. (BPDL), promoters of the newly approved Badagry Deep Seaport, says the project under a Private-Public Partnership (PPP) will create 250,000 jobs.
The Project Manager, BPDL, Oludele James Clinton, who disclosed this in a statement yesterday, in Lagos, described the project as a strategic step toward the development of Nigeria as a global maritime hub.
“The project will generate $53.6 billion in revenue and create about 250,000 jobs; while making Nigeria a maritime hub in West Africa.
“Nigeria is strategically located at a significant point in the Atlantic Ocean, with about 853 kilometres coastline, which gives us a geographic advantage to become a maritime hub for not only the West and Central African region, but also the entire maritime trading world.
“And with over 70 per cent of cargo bound for West and Central Africa destined for Nigeria, the country also has a huge commercial advantage.
“The Seaport is planned to be Africa’s biggest and most advanced seaport when it becomes operational,” he said.
Clinton added, “It would help to maximise this extraordinary maritime potential, more so given the strategic location of Badagry in the region.”
He recalled that the Minister of Transportation, Mu’azu Sambo, had said that under a Build-Own-Operate-Transfer delivery system, the port would be operated by the private sector for 45 years after which it would be reverted to the government.
Very importantly, employment and capacity building for the teeming youth and women in the affected communities will be prioritised.
Speaking on the strategic importance of the port, the Lagos State Governor, Babajide Sanwo-Olu, described the project as multi-level.
“It is a multi-level opportunity for progress for all the people of this State in view of the volume of trade and quantum of investment opportunities that would spring up in the area when the project commences, and when it is completed and operational.
“Very importantly, employment and capacity building for the teeming youth and women in the affected communities will be prioritised.
“The port will also include facilities for handling containers, dry bulk, liquid bulk, roll-on-roll-off, and general cargo, as well as oil and gas operations support,” he said.
The concession was granted to BPDL, wholly owned by Quinn McGrath Marine & Environmental Services Ltd. (QMMESL), an indigenous maritime investment subsidiary of the Quinn McGrath Group.
