Badagry deep seaport project enters second phase, seeks financial partners

The Chief Executive Officer, Badagry Port Development Limited, Didi Ndiomu has said that the Badagry deep seaport project is presently on the second phase, which is the implementation and sourcing of strategic financial partners.

Ndiomu, who disclosed this on Monday during a meeting with the Minister of Marine & Blue Economy, Adegboyega Oyetola added that the seaport project is divided into four phases

This was contained in a press statement issued by Director of Press and Public Relations at the Marine & Blue Economy ministry, Olujimi Oyetomi.

Ndiomu highlighted the advantage of the Badagry Deep seaport when completed alongside the Agge port in Bayelsa as the only natural ports in Nigeria.

He noted that the natural depth are not man made hence no extra costs of sustaining the depth should spur investors to buy in this initiative.

Ndiomu urged the Federal Government to take a lead role in boosting investors’ confidence in the project.

He further urged the government to assure the international community of its commitment to the infrastructural development of Nigeria, given the current economic situation in the country and the uncertainties of the currency fluctuations.

Earlier, Oyetola said that the Ministry is ready to facilitate the process that would lead to the realization of the Badagry Deep Seaport project.

He stated that the project portends immense potential to the Federal Government as it aligns with President Bola Tinubu’s Administration’s objectives.

According to him, the ministry’s policy is tailored in line with the President’s agenda, and so the ministry will do whatever it can to help achieve the Badagry Deep seaport project.

Speaking further, the Minister said he has met with some investors who are interested both local and international to invest.

He appreciated the efforts of the company and applauded them for their hard work as they have overcome a lot of obstacles and come this far.

Recall that the Full Business Case Compliance Certificate for the Badagry Deep Sea port was issued by the Infrastructure Concession Regulatory Commission (ICRC) in 2022 whilst the Federal Executive Council gave approval for development of the project on a Public Private Partnership (PPP) in the same year.