Minister of Marine and Blue Economy, Adegboyega Oyetola has declared the readiness of his ministry to facilitate the process that would lead to the realisation of the Badagry Deep Sea Port project.
The minister stated this during a meeting with the chief executive officer, Badagry Port Development Limited, Didi Ndiomu at the ministry’s headquarters in Abuja.
Oyetola stated that the Badagry Deep Sea project is of immense potential to the economic and maritime development agenda of President Bola Ahmed Tinubu for Nigeria and ECOWAS.
According to Oyetola, 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 Port Development Limited.
Speaking further, the Minister revealed that he has met with some local and foreign investors who are interested in the Badagry Deep Sea Port as well as in other Ports modernization projects in Nigeria, and the administration is willing to work with these progressive investors.
The minister expressed appreciation for the efforts of the Badagry Deep Sea Development Company and applauded the team for their hard work as “they have overcome a lot of obstacles to have come this far.”
In his presentation, Ndiomu revealed that the Badagry Deep Sea Port project which is divided into four phases is presently on the second phase which is the implementation and sourcing of strategic financial partners.
Didi disclosed that the proposed Badagry Deep Sea Port when completed alongside the Agge Port in Bayelsa State are the only natural ports in Nigeria, noting that the natural depths are not man-made, hence they require no extra costs of sustaining the depths.
He also said, “This should spur investors to buy in on this initiative.”
Didi further urged the federal government to take a lead role in the drive to boost investors’ confidence in the Badagry Deep Sea Port Project and give assurance to the international community of FGN’s commitment to the infrastructural development of the country, given the current Nigeria’s economic situation and the fluctuations of the exchange of her currency vis-a-vis other major currencies in the world.
