A signed statement by Gov Babajide Sanwo-Olu’s Chief Press Secretary, Gboyega Akosile, has announced the construction of the Badagry Deep Seaport, which was approved by the federal government in August.
Driving the news
The $2.5bn project funded through Public Private Partnership would be built on approximately 496 hectares. It consists of a 2,470m quay length container terminal, 560m quay length break bulk terminal, 360m quay length OSB terminal and a minimum of 18m depth.
- They also projected it to provide about 250,000 jobs to Nigerians.
Why it matters
The construction of a deep seaport provides an economic advantage to both the state and federal governments as it serves as a base for cargo ships to offload goods, thereby increasing economic activities.
What you should know
Sea travel represents Africa’s most favoured means of transportation for import and export activities. In fact, sea travel represents 90 per cent of the continent’s means of transporting goods. Hence, the call for innovation and development in maritime.
Africa’s over a hundred port facilities handle six per cent of the worldwide water-borne cargo traffic and about three per cent of the world’s container traffic.