The Federal Government says the Badagry Seaport is estimated to generate about 2.6 billion dollars and create 5,000 direct and indirect jobs when operational.
Mr Micheal Ohiani, the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), said this when he led a team to visit the Minister of Transportation, Rotimi Amaechi, on Wednesday in Abuja.
Ohiani also presented said 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 among others.
He said 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”, Ohiani said.
Responding, Amaechi thanked the ICRC for its diligence, noting that the presentation reflected that the project was financially viable.
Amaechi further informed that the Ministry would write to the Federal Executive Council for approval on the projects.
The News Agency of Nigeria (NAN) reports that the Badagry Deep Seaport will be the second in the state after the one in Lekki, projected to be inaugurated in 2022.