Badagry Deep SeaPort To Produce $53b, Create 250,000 Jobs – Gov Sanwo-Olu
Badagry Deep SeaPort To Produce $53b, Create 250,000 Jobs – Gov Sanwo-Olu
The $2.9 billion Badagry Deep Seaport is anticipated to earn more than $53 billion over the course of its concession tenure, according to Lagos State Governor Babajide Sanwo-Olu.
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In a statement released on Friday night, Sanwo-Olu said that the FTZ consists of a port zone, a logistics zone, an industrial zone, and a power hub.
The port will be built in four parts, according to the FEC, and the concessionary period would last 45 years, Nairametrics reported in August.
The $2.9 billion Badagry Deep Seaport is anticipated to earn more than $53 billion over the course of its concession tenure, according to Lagos State Governor Babajide Sanwo-Olu.
Badagry Deep SeaPort To Produce $53b, Create 250,000 Jobs – Gov Sanwo-Olu
In a statement released on Friday night, Sanwo-Olu said that the FTZ consists of a port zone, a logistics zone, an industrial zone, and a power hub.
Sanwo-Olu noted that attracting development to every part of Lagos is a vital aspect of the long-term strategic plan for Lagos state.
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“This is why the Badagry Deep Sea Port which has now been approved for a concession on approx. 496 hectares of land by the Federal Executive Council is very important.
“The Deep Sea Port is part of an FTZ area seated on approximately 1,104 hectares of land, the FTZ comprises of the Port Zone, Logistics Zone, Industrial Zone, and a Power Hub. The port upon completion will generate over $53bn within the concession period.”
He noted that the port will create an additional 250,000 jobs and will provide training and development opportunities to Lagos, also increasing government revenue, improving the regional and global position of Nigeria’s maritime sector, and reducing transportation costs.
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