As part of the 30 years Lagos state development plan, launched at 9th Ehingbeti Summit; and bringing development to every part of Lagos - the Badagry Deep Sea Port which has now been approved for concession by the Federal Executive Council.
Sitting on approximately 496 hectares of land, The Deep Sea Port is part of a Free Trade Zone area seated on approximately 1,104 hectares of land.
The FTZ comprises the Port Zone, Logistics Zone, Industrial Zone and a Power Hub.
The port, the first stage of the Free Zone in this axis - upon completion will generate over $53bn within the concession period.
Also, the port will create an additional 250,000 jobs and will provide training and development opportunities to Lagos, also increasing government revenue, improving the regional and global position of Nigeria’s maritime sector and reducing transportation costs.
This plan, a part of the new Lagos Development takes effect from 2022 to 2052.