$2.6bn Badagry deep sea port will boost Nigeria’s economy – Ambode

The Governor of Lagos State, Mr. Akinwunmi Ambode, said the completion of the $2.6bn Badagry Deep Sea Port Project would mark a turning point in the growth of the nation’s economy.

The Governor said this after a meeting with Mr. Morten Engelstoft, the Chief Executive Officer designate, APM Terminals (Maersk Group) in Copenhagen, Denmark, on the advancement of the deep sea port, a statement by his Chief Press Secretary, Mr. Habib Aruna, said.

According to the governor, the project will also complement the emergence of Lagos as the fifth largest economy in Africa.

He explained that the meeting, held alongside Chairman, APM Terminal, Apapa, Chief Ernest Shonekan, was the culmination of a process which began in 2012.

Ambode said, “This port and free zone, situated on over 1000 hectares is expected to be the largest deep sea port in Africa upon its completion. The project will include a container terminal, oil & gas services and a liquid bulk terminal, with general cargo and Ro-Ro facilities.”

He added that the port was expected to generate 500,000 direct and indirect jobs upon completion and promised that the state government would ensure the protection of the interests of the host communities.

Ambode also said talks were in advanced stage over the funding of Lot 3 of the Mile 2 to Seme 10-lane highway expansion, adding that it would complement the ongoing Badagry Deep Sea Port Project.

The Governor, who said the Lot 3 would run from Okokomaiko-Badagry-Seme, affirmed the commitment of his administration to providing an enabling environment for businesses to thrive in the State.

Engelstoft said the Maersk Group remained committed to the Badagry Deep Sea Port and assured the governor that all business streams of the group would be involved in ensuring the success of the project.