Badagry Port poised to compete with Cotonou Port
By Jeph Ajobaju, Chief Copy Editor
Badagry Deep Seaport is expected to generate $2.6 billion revenue yearly and create 5,000 jobs when completed, according to Infrastructure Concession Regulatory Commission (ICRC) acting Director General Micheal Ohiani.
He made the disclosure at a meeting with Transportation Minister Rotimi Amaechi in Abuja.
This comes after the implementation of the Lekki Free Trade Zone (FTZ) in Lagos, which contains Lekki Deep Seaport expected to aid exports and imports with 2.7 million TEUs per annum.
Ohiani spoke when he presented to Amaechi the Full Business Case Compliance Certificate for the Badagry Deep Seaport and the Modular Floating Dock.
He said Badagry Seaport is estimated to generate about $2.6 billion and create about 5,000 direct and indirect jobs when it becomes operational and thousands more in the long run.
The project is also planned to create a total ecosystem in terms of shipping, transportation, and jobs as well as compete with Cotonou Seaport.
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Concession of FTZs
“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 explained.
Amaechi said the ministry will write to the Federal Executive Council (FEC) for approval of project, per reporting by Nairametrics.
The Bureau of Public Enterprises (BPE) earlier in the year invited investors for the Submission of Response To Request for Qualification (RFQ) for the Concession of the Calabar and Kano Free Trade Zones.
The concessions are expected to last a minimum 25 years.
Calabar FTZ was established in 1992 after the promulgation of the NEPZA Act No.63 of 1992. It is owned and managed by the federal government at the Calabar Port.
Kano FTZ is the second FTZ wholly owned by the federal government. It was established in 1994 by decree and converted fully to a FTZ from an EPZ in 2001.
It sits on 262 hectares of land between Fagge Council and Ungogo Council.