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The port will be operated by the private sector for 45 years after which it will be reverted to the government.
The Nigerian government has approved the sum of $2.59billion for the development of the Badagry Deep Seaport project under a Private-Public Partnership.
The Nigerian government has approved the sum of $2.59billion for the development of the Badagry Deep Seaport project under a Private-Public Partnership.The project is being promoted by a company, Badagry Port Development Limited.
However, checks by SaharaReporters revealed that Badagry Port Development Limited, the promoter of the project, is owned by the Adewale Tinubu and Olakunle Tinubu.
Adewale is the nephew of Bola Tinubu, a former governor of Lagos State, and the Presidential Candidate of the All Progressives Congress.
According to the Minister of Transportation, Mu’azu Sambo, under a Build-Own-Operate-Transfer delivery system, the port will be operated by the private sector for 45 years after which it will be reverted to the government.
Approved on August 3, the minister said the project would generate $53.6bn in revenue and create about 250,000 jobs; while making Nigeria a maritime hub in West Africa.
