FEC approves $2.59bn for Badagry Seaport

The Federal Executive Council (FEC) has approved 2.59 billion dollars for the development of Badagry Deep Seaport in Lagos State.

The council also approved N2.6 billion for the procurement of utility vehicles and gadgets for security agencies operating in the Federal Capital Territory (FCT), Abuja.

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The Ministers of Transport, Muazu Sambo, and that of Federal Capital Territory (FCT), Malam Muhammed Bello, made these known when they addressed State House correspondents on the outcome of the council meeting on Wednesday.

The meeting was presided over by President Muhammadu Buhari on Wednesday in Abuja.

According to Sambo, the Badagry project will be executed under a Public Private Partnership (PPP) scheme, saying the private sector will inject money into the port and manage it for 45 years.

He said: “I presented a memo at council, with respect to the development of the Badagry Deep Seaport, under the public-private partnership arrangement, where the private sector will inject money for the development of the port and at the end of the concessionary period, the port reverts to the Nigerian government through the Nigerian Ports Authority.

“The project as approved by the council based on the final business case as approved earlier by the Infrastructure Concession Regulatory Commission in line with extant laws stands at $2.59 billion.

“It is to be developed in four phases and the concessionary period is 45 years,” he stated.

Sambo said the decision taken by the government would further its goal of making Nigeria the maritime hub of the West and Central African regions.

According to him, the project will help Nigeria generate total revenue of 53.6 billion dollars over the concession period as well as create jobs and attract foreign direct investments, culminating with an enhancement of the wellbeing of Nigerians.

N2.6bn for FCT security
On his part, the FCT minister revealed that the council approved N2.6 billion for the procurement of utility vehicles and gadgets for security agencies to combat criminal activities across all the six area councils of the FCT.

He said: “Today, I presented a memo for the procurement of utility vehicles, security gadgets and accessories to support the security agencies operating within the Federal Capital Territory.

“These items are 60 utility vehicles, including communication equipment to be installed in the vehicles, to be supplied at the cost of N1,835,108,613,.95 with a delivery period of two months.”

He also revealed that the FCT administration also got approval for the procurement of more working tools for security agencies responsible for securing the territory.

“In addition to that, the council also approved the supply of various security gadgets and accessories to support security agencies in the FCT at a total sum of N847,139,764.57,” he added.

Bello said the support given to the security agencies was in line with the FCT administration’s policy of aiding their work, so as to enhance security within the territory.

On recent attacks in some parts of the FCT, the minister assured residents that “there are tremendous efforts by all relevant authorities, to ensure that the FCT continues to enjoy lasting peace’’. (NAN)