Marine and Blue Economy Ministry poised to support realisation of Badagry Deep Sea Port — Oyetola
By Seun Ibiyemi
The Minister of Marine and Blue Economy, H.E Adegboyega Oyetola, has said that the Ministry is ready to facilitate the process that would lead to the realisation of the Badagry Deep Sea port project.
The Minister made this known during a meeting with the Chief Executive Officer, Badagry Port Development Limited, Didi Ndiomu, at the ministry in Abuja.
Oyetola stated that the Badagry Deep Sea 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 Sea project.
Speaking further, the Minister said he has met with some investors who are interested both locally and internationally 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.
In his presentation, the Chief Executive Officer, Badagry Port Development Limited, Didi Ndiomu said the project which is divided into four phases is presently on the second phase which is the implementation and sourcing of strategic financial partners.
Speaking at the briefing, Didi disclosed that the proposed Badagry Deep Sea Port when completed alongside the Agge Port in Bayelsa are the only natural ports in the country noting that the natural depth is not man made hence no extra costs of sustaining the depth should spur investors to buy in this initiative.
He further urged the Federal Government to take a lead role in the drive to boost the investors’ confidence in the Badagry Deep Sea Port Project and assure the international community of government’s commitment to the infrastructural development of Nigeria, given the current Nigerian Economic situation and the uncertainties of the currency fluctuations.
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.
