• Fri. Sep 30th, 2022

NDOKWA VANGUARD

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FEC approves development of $2.59bn Badagry deep seaport

The federal executive council (FEC) has approved the development of the Badagry deep-sea port.

Tolu Ogunlesi, special assistant to President Muhammadu Buhari on Digital & New Media said the approval came after the FEC met on Wednesday August 3.

He tweeted;

BREAKING: Federal Executive Council(FEC) today approved the Development of the Badagry Deep-Sea Port, on Build-Own-Operate-Transfer(BOOT) Public Private Partnership (PPP) Model Project Sum: USD$2.594 Billion, to be Fully-financed by Private Investors

Concession period: 45 years

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