FEC Approves Development Of $2.59bn Badagry Deep Seaport

August 3, 2022 Admin News 0

FEC Approves Development Of $2.59bn Badagry Deep Seaport

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

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,”