Project Overview & Structure
The substantial demand for capital investment in pursuit of developing such a port has become the major driver for the Nigerian Ports Authority (NPA) to consider ways to leverage on the existing policy framework on public private partnership (PPP) for the provision of shipping trade infrastructure/facilities in Nigeria. Accordingly, the NPA has considered private sector investment necessary and important because it would especially bridge the needed resource gap for the development of the Badagry project.
The Badagry Deep Sea Port Project will be implemented under a Build-Own-Operate-Transfer (BOOT) concession structure, whereby the port will be operated by the private sector for 45 years. During the 45-year concession period, the project is estimated to generate USD 54 Billion of revenue, create about 250,000 jobs and attract an immense amount of foreign direct investment into the various support services required to build, operate and maintain the port. The project is in line with the government’s goal of making Nigeria the maritime hub for the West and Central African sub-region.