The Federal Government of Nigeria is making plans to build its third deep seaport with an estimated cost of $1 billion.
Speaking through the Nigeria Ports Authority (NPA), the new deep seaport called Ondo Multipurpose Deep Seaport Project, is part of the government’s commitment to create enabling business environment.
Ondo Deep Seaport will be the third deep seaport in Nigeria after, Lekki Deep Seaport and Badagry Deep Seaport. It is located on Ilaje Local Government area (coastline) of southwestern Ondo State, Nigeria.
DiplomaticWatch gathered that the proposed Ondo Deep Seaport Project which will also come with a Free Trade Zone measures about 2,771.2 hectares, and located along the country’s riverine area stretching into the Atlantic Ocean.
The Managing Director of the country’s ports authority, Mohamed Bello Koko received the Ondo State Coordinator for Special Projects, Mr. Boye Oyewumi, in Friday.
According to the statement from the ports authority sighted by DiplomaticWatch, Mr Oyeyumi’s visit was to ‘submit the Full Business Case (FBC) for the Ondo Multipurpose Deep Seaport Project.’
“Located along the coast of Ondo, the port is estimated to cost USD 1 billion to be funded through a PPP plan,” the ports authority added.
Prior to this time, Mr Oyewumi who serves a the Special Adviser Development and Investment and Chief Executive Officer, Ondo State Development and Investment Promotion Agency (ONDIPA), once stated that the completion of the port upon will not only benefit the state but the entire country.
State Governor’s Commitment
The Governor of Ondo State, Arakunrin Oluwarotimi Akeredolu, in a 2022 report said the completion of the proposed deep seaport will see to the generation of over 500billion investment to the host community.
Governor Akeredolu strongly posited that the deep seaport will be a priority for his administration. Although, he is serving his second term in office ending in 2024(to make 8 years in office) but the proposed deep seaport is yet to be operational.
While the State Government was still working towards obtaining a Port Declaration for the seaport from the Federal Government, it had spent hundreds of millions for studies done by both international and local consultants.
The Deep Seaport To Create 20,000 Jobs
Governor Akeredolu said that the deep seaport will create 20,000 job opportunities for people in the area where it will be built.
“We don’t have the money but we will set aside as many projects as we can to get this port done so that the quality will meet the standard expected of us by the Federal Government,” Governor Akeredolu had said in a previous report.
Governor highlighted the the building of the port will undergo three levels. He mentioned Federal Government’s approval, work done level and the role of consultants and community leaders in completing the project.
Nigeria’s VP Speaks On The Proposed Deep Seaport
In November 2022, Vice President of Nigeria, Professor Yemi Osinbajo had also supported the development of the Ondo Multipurpose Deep Seaport Project. His view was that the project is worth being executed.
“There’s a need to make sure you are able to get through the things needed. I am sure it is an initiative that will receive the full support of the Federal Executive Council.We all look forward to the seaport.”
We Are Committed To Commence Operations If…- Ports Authority
DiplomaticWatch gathered that the Nigerian Minister of Transportation, Mu’azu Jaji Sambo, had promised in 2022, that the newly proposed seaport to be sited in Ondo State will be ready by May 29, 2023.
Minister Sambo said the Federal Government was sorting ways to make the port commence operations before May 29, 2023.
He said the Federal Government will not lag behind in approving the Port Ondo Declaration in pursuant to the section 30 of the Ports Act, once all extant laws are met.
Earlier this Friday, the Managing Director of the ports authority said the Ministry of Transportation will be duly involved in the final approvals of the port.
“…Authority will work with the Federal Ministry of Transportation and other relevant agencies to ensure all necessary final approvals are obtained quickly to enable the port to commence operations in record time.”
In line with global best practices of establishing new ports, the Nigerian authority says it will provide technical guidance for the new proposed port project.
It is less than 25 days to the announced May 29, 2023, which is coincidentally the inauguration of a new administration. DiplomaticWatch Nigeria’s correspondent is monitoring the development for global coverage
