The Badagry Port Development Ltd (BPDL), promoters of the newly approved Badagry Deep Seaport project, says the project under a Private-Public Partnership will create 250,000 jobs.Mr Oludele James Clinton, the Project Manager, BPDL, disclosed this in a statement on Tuesday in Lagos.Clinton 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 planned to be Africa’s biggest and most advanced seaport when it becomes operational,” he said.Clinton added that the project would help to maximise the maritime potential.“It would help to maximise this extraordinary maritime potential, more so given the strategic location of Badagry in the region,” he said.Clinton quoted the Minister of Transportation, Mu’azu Sambo, as saying 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.Sambo said, “I presented a memo today at council with respect to the development of the Badagry Deep Seaport under the public-private partnership arrangement.“The private sector will inject money for the development of the port and at the end of the concessionary period, the port reverts to the Federal Government of Nigeria through the Nigerian Ports Authority.“The project cost as contained and approved in council based on the final business case as approved by the Infrastructure Concession Regulatory Commission in line with extant laws stood at $2.59 billion.“This is to further the government’s goal of making Nigeria the maritime hub of the West and Central Africa sub-region.“This project, it may interest you to know, will also generate total revenue of over $53.6 billion over the concession period,” he said.Speaking on the strategic importance of the port, the Lagos State Governor, Babajide Sanwo-Olu, said Project is not just one project.“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.In the meantime, a group, The Buhari Media Organisation (BMO) has lauded the President for the approval of 2.5billion US Dollars for the development of Badagry Deep Seaport in Lagos StateThe group said the development has reaffirmed the commitment of President Buhari’s philosophy of private sector leadership in its economic development agenda. BMO added that the gesture also shows a strong determination by the Buhari administration to diversify the nation’s economy. The Badagry Seaport will be executed under a Public Private Partnership (PPP) scheme in which the private sector will inject money into the port project and manage it for 45 years before the final takeover by the Federal Government.The project will be developed in four phases and help the country generate total revenue of 53.6 billion dollars over the concession period as well as create jobs and attract foreign direct investments, culminating in an improvement of the wellbeing of Nigerians.In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO described the Badagry Deep Sea project as a game-changing infrastructural project and commended the President and his administration for its determination to make a major impact in trade and commerce.“We believe that this project will be of great value to Nigeria, in terms of employment generation, increase in port capacity, and as well improve shipping business. Besides, it will ease congestion in Nigerian premier port in Apapa, Lagos and become one of the most modern ports in West Africa and support the growth of commercial operations in the region”.The group urged all stakeholders in the Badagry Deep Sea project to play their assigned roles in line with the rules and regulations guiding the project and work assiduously to ensure its timely delivery, adding that “the Buhari administration will continue to provide an enabling environment for local and foreign investors to thrive”.
