Sanwo-Olu gets FG’s approval for $2.5bn Badagry seaport
The August decision of the Federal Executive Council to authorise the construction of the Badagry Deep Seaport has been communicated to the governor of Lagos State, Mr. Babajide Sanwo-Olu.Infomation Guide Nigeria
The approval, which was granted at the recently concluded Lagos State Economic Summit (Ehingbeti 2022), authorizes and provides the legal basis for the concession of the Badagry Deep Seaport following the issuance of the Full Business Case Certificate by the Infrastructure Concession Regulatory Commission last April.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaApproximately 496 hectares would be used to construct the $2.5 billion project, which would be funded through a Public Private Partnership. It would have 2,470m of container terminal quay length, 560m of break bulk terminal quay length, 360m of OSB terminal quay length, and a minimum depth of 18m.
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It was anticipated to generate 250,000 direct employment, increase government revenue, and function on a build, operate, and transfer concession deal.
Speaking on the development, Sanwo-Olu said the Seaport would boost Lagos State’s logistics and commerce capability.
He said, “We are excited that Lagos is on the way to having another deep seaport on the Western side of the city. Before the end of this year, we will be commissioning the Lekki Deep Seaport on the Eastern side. What it means is that, what we have been suffering as a logistics and commerce hub of West Africa will be addressed when we increase maritime infrastructure that improves turnaround time in this sector.”
This ensures that Lagos will continue to serve as the economic and commercial hub of sub-Saharan Africa.
Sanwo-Olu also inked an MOU with Siemens Energy Limited and Deutsche Gesellschaft für Internationale Zusammenarbeit to establish an Energy Training Centre of Excellence at the Government Technical College in Ikorodu.Jamb Result
The programme, which would be undertaken in partnership with the Lagos State Technical and Vocational Education Board, would equip over 16,000 young people aged 15 to 35 with a needs-based technical and vocational education.
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