The Nigerian Ports Authority (NPA) has secured the nod of the Federal Executive Council for the Badagry Deep Seaport Project.
The project, Legit.ng gathered was secured through the Federal Ministry of Transportation - the supervisory ministry for the NPA.
This feat by the NPA comes on the heels of the receipt of the Full Business Case Compliance Certificate on the Badagry Deep Seaport and the Modular Floating Dockyard from the Infrastructure Concession Regulatory Commission (ICRC) earlier this year.
The project which is to be developed in four phases through Build Own Operate and Transfer (BOOT) Public Private Partnership (PPP) model is a full-scale Greenfield Commercial Deep Seaport conceived to augment Nigeria’s existing port capacity and open new vistas for trade facilitation.
In addition to augmenting the existing port capacity and alleviating existing traffic congestion in the existing ports of Lagos, the Badagry Deep Seaport project is expected to improve the availability of modern port facilities.
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It will also improve the quality of service, and provide value for money to the government by easing the pressure on the national budget.
This can be achieved by transferring the huge investment required for port infrastructural development and operations to the private sector while boosting revenue, accelerating Nigerian economic prosperity and propelling the economic empowerment of Nigerians.
It will also harness the use of reduced transportation costs and seamless logistics which is a necessary precondition for the attainment of hub status.
The Greenfield Multipurpose port is located in the Gberefun area of Badagry, Lagos state which is about 55Km west of Apapa and Tincan Island Port Complexes along the Lagos-Badagry Expressway.
With a channel depth of 19m metres, a total area of port development of 197 hectares and turning circle of 800m and a quay length of 2,470 metres among other distinctive features, the Badagry Deep Seaport is set to further position Nigeria to maximize the comparative advantage that the country’s littoral assets confer.
Receiving the first ever vessel to berth at the soon-to-be operational Lekki Deep Seaport, the managing director of the NPA, Mohammed Bello Koko said the agency's strategic intent of becoming the maritime logistics hub for sustainable ports services in Africa rests heavily on the ability to deepen the nation's efficiencies.
Koko said this can be done through the construction of deep seaports in order to leverage the concomitant benefits of economies of scale.”
"That automation remained the most veritable tool for assuring port efficiency.
"This provides an insight into the path we are already toeing as a management team to govern the operationalization of not just the forthcoming Badagry, Ibom and Bonny Deep Seaports."
With this approval made by FEC, $2.59 billion worth of financial investment has been confirmed by industry watchers to possess the capacity to create thousands of direct and indirect jobs.
Also, the Badagry Deep Seaport has been positioned in the annals of history as Nigeria’s second Deep Seaport with the potential to convert the nation’s maritime endowments into prosperity for its people.
Nigerian Ports Authority secures fresh approval for designation of important sea port in southwest region
Approval had been secured for the designation of the Lekki Deep Seaport as a customs port and approved wharf.
This approval was received by the Nigerian Ports Authority from President Muhammadu Buhari the agency had said.
According to the NPA, the presidential approval for the port as a customs port and approved wharf is in line with the requirements of the law.
Nigerian Ports Authority boss congratulates Buhari's new ministerial appointees
The managing director of the Nigerian Ports Authority congratulated the appointed Honourable Minister of Transportation and his minister of state Mohammed.
Koko's congratulatory message was sent in a tweet made on his personal Twitter page on Thursday, July 7.
The NPA boss said the wealth of experience and track record of excellent performance gathered by the two appointees will add fillip to ongoing efforts at improving efficiency in the transport ministry.