A new seaport has been approved by the Federal Executive Council, FEC, for Badagry, Lagos to bring in big vessels into the country.
Disclosing this after the FEC meeting in Abuja on Wednesday, August 3, 2016, Minister of Power, Works and Housing, Babatunde Fashola, said the new port would cost $2.58 billion and would be completed in five years.
Fashola told State House correspondents that the approval of the new seaport was consistent with the Federal Government’s macroeconomic policy to emphasise on tax income following a fall in the oil revenue.
Also speaking on the seaport, Ministers of Transport and Information, Rotimi Amaechi and Lai Mohammed respectively described the project as a viable infrastructure.
The Badagry seaport was said to have been started by the past administration and was abandoned midway.