Ambode Says $2.6bn Badagry Deep Sea Project Will Boost Economy

• Ambode Says $2.6bn Badagry Deep Sea Project Will Boost Economy

Gov. Akinwunmi Ambode of Lagos State says the 2.6 billon dollar Badagry Deep Sea Port Project will be bring about global growth to Nigerian waters and by extension the nation’s economy.

Ambode made the assertion in a statement by his Chief Press Secretary, Mr Habib Aruna, on the highlights of the governor’s meeting with the Executive Management of APM Terminals (Maersk Group) in London on Thursday.

The statement said Ambode met with the group’s representatives, Mr Morten Engelstoft, Chief Executive Officer designate of APM Terminals in Copenhagen, Denmark, alongside the Chairman, APM Terminal, Apapa, Chief Ernest Shonekan.

It said the meeting discussed the advancement of the Badagry Deep Sea Port as the project would also complement the emergence of Lagos as the fifth largest economy in Africa.

“This meeting was the culmination of a process which began since 2012 and which has been taken on with renewed vigour by the incumbent administration.

“It has thus, resulted in this significant foreign investment estimated at over 2.6 billion dollars into Lagos.

“The port and free zone, situate on over 1,000 hectares is expected to be the largest deep sea port in Africa upon its completion.

“The project will include a container terminal, oil and gas services and a liquid bulk terminal with general cargo and Ro-Ro facilities,’’ it said.

The statement said the project was expected to generate 500,000 direct and indirect jobs upon completion.

It said that Ambode pledged his government’s commitment to ensure that the interests of the host communities were duly considered alongside a sustainable regeneration and urban renewal of the area.

According to the statement, the governor affirmed the commitment of his administration to providing an enabling environment for businesses to thrive in the state.

On his part, Engelstoft restated the group’s commitment to the Badagry Deep Sea Port and assured the Governor that all business streams of the Maersk Group would be involved in ensuring the success of the project.

It will be recalled that Ambode had about three weeks ago in London, met with the representatives of APM Terminals led by the Head of Africa, Mr Peter Volkjaer Jorgensen.