BY: News Peddlers
.jpeg)
The construction of the deepest seaport in west Africa, which will be located in Badagry, Lagos state is scheduled to commence soon.
"It will generate $53.6 billion in revenue and create approximately 250,000 jobs, as well as establish Nigeria as a West African maritime hub."
Mu'azu Sambo, the Minister of Transportation, revealed this to State House Correspondents on Wednesday shortly after the Federal Executive Council meeting chaired by the President, Major General Muhammadu Buhari (retd.), at the Presidential Villa's Council Chambers in Abuja.
According to Sambo, the port will be operated by the private sector for 45 years before being returned to the government under a Build-Own-Operate-Transfer delivery system.
"I presented a memo today 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 port's development and at the end of the concessionary period, the port reverts to the Federal Government of Nigeria through the Nigerian Ports Authority," the minister said.
RELATED NEWS: BREAKING: FG Approves $2.59bn, Developer to Run Badagry Deep Sea Port For 45 Years
"The project cost, as contained and approved in council, was $2.59 billion, based on the final business case approved by the Infrastructure Concession Regulatory Commission in accordance with existing laws." It must be developed in four stages with milestones and a 45-year concession period. As previously stated, reversion is to the Federal Government of Nigeria.
"This will help the government achieve its goal of making Nigeria the maritime hub of the West and Central Africa sub-region." This project will also generate total revenue of more than $53.6 billion over the concession period, which may be of interest to you. It will generate approximately a quarter million jobs, attract foreign direct investments, and contribute to the overall improvement of Nigeria's economy.
According to Mohammed Bello, Minister of the Federal Capital Territory, the council approved a sum of N2.68 billion for the procurement of 60 utility vehicles as well as security gadgets and accessories for the city's security.
Coscharis Motors, he said, would supply the vehicles.
"Today, I presented a memo to the Federal Executive Council for the procurement of utility vehicles, security gadgets, and associated accessories to support the security agencies operating within the Federal Capital Territory."
"These are 60 utility vehicles to be supplied by Coscharis Motors Limited, including communication equipment installed in the vehicles, for N1,835,108,613.95 with a two-month delivery period."
"In addition, Council approved the supply of various security gadgets and accessories to support security agencies in the FCT, with Messrs E&S Technical Limited providing these items for a total of N847,139,764.57, bringing the total of these two procurements to N2,682,248,378.52," Sambo said.
The Minister of Information and Culture, Lai Mohammed, stated on behalf of the Secretary to the Government of the Federation that the Council has approved N810.53 million for the purchase of 25 operational vehicles for the Independent Corrupt Practices Commission.
Mohammed explained that the ICPC requires new vehicles because its scope of operations has expanded, it has opened bases in more states, and it has increased its personnel.
"Today, the Secretary to the Government presented a memo to procure operational vehicles for the Independent Corrupt Practices and Other Related Offenses Commission, the ICPC." The ICPC requested 25 operational vehicles for a total of N810,534,380.72, including 13 Toyota Hilux 2.7 litres and a Peugeot 3008 SUV.
"The procurement is required because the ICPC's activities have increased as a result of improved management, expansion of the scope of operations through the establishment of more state offices across the country, and an increase in personnel, among other things."
"As you are aware, the ICPC has today also taken over project consistency supervision. "The memo request was approved, and it is addressed to Messrs. Kaura Motors Limited," he said.
SOURCE: PUNCH