The Federal Government has signed a Memorandum of Understanding (MoU) with APM Terminals for the development of the proposed Badagry Deep Seaport in Lagos State, in a move aimed at strengthening Nigeria’s maritime infrastructure and attracting fresh investment into the country’s blue economy.
The agreement was signed in Denmark as part of the Federal Government’s ongoing efforts to deepen international partnerships and mobilise private-sector investment for strategic port infrastructure projects.
The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, accompanied the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, as part of the Nigerian delegation involved in the engagement with APM Terminals.
The proposed Badagry Deep Seaport is expected to expand Nigeria’s port capacity, improve the efficiency of cargo handling and provide an alternative gateway for international trade, particularly for businesses operating within Lagos and neighbouring states.
The partnership with APM Terminals, a major global port operator, is also expected to facilitate the deployment of international expertise, technology and investment in the development and eventual operation of the port.
The signing of the MoU marks another step in the Federal Government’s drive to reposition Nigeria’s maritime sector as a major contributor to economic growth, trade facilitation, job creation and revenue generation.
The government has continued to emphasise the importance of developing deep-sea ports and other maritime infrastructure as part of efforts to reduce pressure on existing facilities, enhance Nigeria’s competitiveness in regional and international trade, and maximise the economic potential of the Gulf of Guinea.
For the Nigerian Ports Authority, the partnership is expected to complement ongoing initiatives to modernise the nation’s port system and create an efficient, investment-friendly maritime environment.
The Badagry Deep Seaport, when completed, is expected to have significant economic implications for Lagos and the wider South-West region, with the potential to stimulate industrial development, logistics, warehousing, transportation and other port-related businesses.
The Federal Government said the agreement would further strengthen maritime cooperation between Nigeria and international partners while creating a platform for increased foreign and domestic investment in critical port infrastructure.
The development also aligns with the administration’s broader agenda of harnessing the blue economy to diversify the Nigerian economy, create employment opportunities and generate sustainable sources of revenue.
The signing of the MoU is therefore being viewed as an important milestone towards translating the proposed Badagry Deep Seaport from a long-standing infrastructure ambition into a major maritime investment project.