The federal government through the Ministry of Transportation yesterday received the Full Business Case Compliance Certificate on the Badagry Deep Seaport and the Modular Floating Dockyard from the Infrastructure Concession Regulatory Commission (ICRC).
This was revealed when the Minister of Transportation, Mr. Rotimi Amaechi, received the Director, Transportation, ICRC, Dr. Emmanuel Onwodi, in Abuja, who presented the minister the certificate.
Speaking on the projects, a statement quoted Onwodi to have said it would among other benefits, create a total ecosystem in terms of shipping, transportation, job creation.
He added: “Most notable attribute of the Badagry port is that it will enable the country compete favourably with the Contonou seaport.”
He further said with respect to 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.”
He also said when the project becomes operational, it had been estimated to generate $2.6 million for the country.
The minister thanked the ICRC for its diligence, noting that the presentation reflects that the project was financially viable.
Amaechi in the statement by the ministry’s Director of Press, Eric Ojiekwe, further stated that the Ministry would write to the Federal Executive Council (FEC), for approval of the projects.
Present at the function was the Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani.