The Nigerian Government has taken another step toward expanding Nigeria’s maritime infrastructure with the signing of a Memorandum of Understanding (MoU) to advance the proposed Badagry Deep Seaport project.
The agreement, reached in Copenhagen, Denmark, followed a meeting between a Federal Government delegation led by the Minister of Marine and Blue Economy, Adegboyega Oyetola, and officials of APM Terminals.
The MoU, signed with Badagry Port Development Limited, opens the door for exclusive negotiations on the development of the deep seaport, which the government believes will strengthen Nigeria’s position as a regional maritime hub.
Announcing the development, Oyetola said, “Yesterday in Copenhagen, Denmark, we took an important step towards unlocking a new chapter in Nigeria’s maritime and economic development.”
He added, “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.”
According to the minister, the proposed facility will expand Nigeria’s deepwater port capacity, enabling the country to receive larger container vessels, handle higher cargo volumes and attract more transshipment business within West Africa.
Oyetola also said the project is expected to create employment opportunities and stimulate investments across the maritime value chain.
“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 said.
He explained that the Badagry project is one of several deep seaport initiatives being pursued by the Federal Government, noting that similar projects are progressing in Akwa Ibom, Bayelsa, Cross River, Ogun, Ondo and Rivers states.
The minister said the new generation of deep seaports differs from conventional river ports because they are built around naturally deep channels capable of accommodating some of the world’s biggest ships.
“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,” he stated.
Oyetola stressed that the government is equally committed to improving 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 noted that the simultaneous development of new deep seaports and the rehabilitation of existing ones would improve logistics, strengthen supply chains, reduce congestion at current ports and enhance Nigeria’s competitiveness in international trade.
Reaffirming the administration’s commitment, the minister said, “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 added that the Federal Government would continue to encourage private sector participation in the maritime industry.
“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.”
Oyetola concluded: “We will continue to work with investors and partners who share our vision of a stronger, more competitive and prosperous Nigeria.”