Federal Government has moved a step closer to the development of the proposed Badagry Deep Seaport after signing a Memorandum of Understanding (MoU) that will pave the way for exclusive negotiations on the project.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed the development on Wednesday following a meeting with global port operator APM Terminals in Copenhagen, Denmark.
According to the minister, the agreement was signed with Badagry Port Development Limited to commence exclusive negotiations on the proposed deep seaport, which is expected to expand Nigeria’s maritime capacity and strengthen its position in regional trade.
“Yesterday in Copenhagen, Denmark, we took an important step towards unlocking a new chapter in Nigeria’s maritime and economic development,” Oyetola said.
“I led a Federal Government delegation that engaged APM Terminals on the proposed development of the Badagry Deep-Seaport, culminating in the signing of a Memorandum of Understanding (MoU) with Badagry Port Development Limited for exclusive negotiations on the project.”
The minister explained that the proposed facility would provide additional deepwater capacity capable of receiving larger container vessels while significantly increasing cargo-handling capacity.
He added that the project would also create fresh opportunities for transshipment business, serving both Nigeria and other countries across the West African region.
Highlighting the expected economic benefits, Oyetola said the project would generate employment and stimulate investments across several sectors of the maritime industry.
“For our teeming youth, it means more opportunities for jobs, skills development, investment and enterprise across the maritime value chain — from port operations and logistics to transportation, manufacturing, warehousing and other support services,” he stated.
The minister noted that the Badagry Deep Seaport forms part of the Federal Government’s broader strategy to establish a network of modern deep seaports along Nigeria’s coastline.
He revealed that work is also progressing on similar deep seaport projects in Akwa Ibom, Bayelsa, Cross River, Ogun, Ondo and Rivers states.
According to him, unlike conventional river ports, the new deep seaports are designed around naturally deep-draft channels that can accommodate some of the world’s largest cargo 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,” Oyetola said.
Beyond the proposed deepwater ports, the minister said the government is equally investing in the rehabilitation of existing port infrastructure.
“At the same time, we are not ignoring our existing legacy seaports. 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 our growing economy while new deepwater capacity is developed,” he said.
He added that the combined investments in new and existing port infrastructure would improve trade efficiency, strengthen supply chains, reduce pressure on existing city ports and enhance Nigeria’s attractiveness as a destination for international business.
Oyetola stressed that expanding maritime infrastructure remains a key component of President Bola Tinubu’s Renewed Hope Agenda.
“The development of our maritime infrastructure is central to President officialABAT’s Renewed Hope Agenda and our determination to position Nigeria as West Africa’s premier trade and logistics hub,” he stated.
The minister reaffirmed the Federal Government’s commitment to creating an enabling environment for long-term private investment in the maritime sector through strategic public-private partnerships.
“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.”
