By Obiabin Onukwugha
Minister of Marine and Blue Economy, Adegboyega Oyetola, has stated that the federal government and leading shipping company, APM Terminals, have signed a Memorandum of Understanding for the development of the Badagry Deep-Seaport.
Oyetola revealed this in a statement on his X social media platform on Tuesday, stating that the MoU which was signed in Copenhagen, Denmark, on Monday, is a major step towards unlocking a new chapter in Nigeria’s maritime and economic development.
He said: “I led a Federal Government delegation that engaged APM Terminals on the proposed development of the Badagry Deep-Seaport, which culminated in the signing of a Memorandum of Understanding (MoU) with Badagry Port Development Limited for exclusive negotiations on the project.”
According to him, the proposed Badagry Deep-Seaport will provide additional deepwater capacity, accommodate larger container vessels, increase cargo-handling capacity and create new transshipment opportunities for Nigeria and the wider West African market.
The Minister stated that the project will also provide more opportunities for jobs, skills development, investment and enterprise for youths across the maritime value chain, from port operations and logistics to transportation, manufacturing, warehousing and other support services.
“Badagry is also part of our broader commitment to developing a network of modern deep seaports across Nigeria’s coastline. We are also advancing work on deep seaport projects in Akwa Ibom, Bayelsa, Cross River, Ogun, Ondo, and Rivers State,” he ssid.
Oyetola stressed that unlike traditional river ports, these deep seaports are designed around naturally deep-draft channels capable of accommodating some of the world’s largest vessels. “This will significantly strengthen Nigeria’s capacity to handle larger ships, increase cargo volumes, improve connectivity and position our country as a major maritime and transshipment hub for West and Central Africa.“At the same time, we are not ignoring our existing legacy seaports,” the Minister said.
Oyetola revealed that the Federal Ministry of Marine and Blue Economy has obtained the necessary approvals to modernize and upgrade these critical facilities, ensuring that existing infrastructure continues to support growing economy while new deepwater capacity is developed.
“Together, these investments will strengthen our supply chains, improve the efficiency of trade, ease pressure on existing city ports and enhance Nigeria’s competitiveness as a destination for international business,” he stated, adding that the development of Nigeria’s maritime infrastructure is central to President Bola Tinubu’s Renewed Hope Agenda and the federal government determination to position Nigeria as West Africa’s premier trade and logistics hub.
“The Federal Government remains focused on creating the right environment for responsible, long-term private-sector investment in our maritime sector. Through strategic public-private partnerships, we can unlock the immense potential of Nigeria’s Blue Economy, attract capital, create decent jobs, stimulate economic activity and drive sustainable economic growth.
“We will continue to work with investors and partners who share our vision of a stronger, more competitive and prosperous Nigeria,” he stated.
