FEC okays $2.59bn for Badagry Seaport development

The Federal Executive Council (FEC) has approved the sum of $2.59 billion for the development of Badagry Deep Seaport under a Private-Public-Partnership (PPP) arrangement.

This was disclosed by the Minister of Transportation, Mu’azu Sambo, while briefing correspondents on the outcome of the Federal Executive Council (FEC) presided over by President Muhammadu Buhari at the Presidential Villa, Abuja on Wednesday.

He said it will be concessioned to the developers for a period of 45 years after which it will revert to the federal government.

According to him, during the concessionary period, the project is expected to provide about a quarter of a million jobs while generating a revenue of about 53.6billion.

He added that the project is expected to make Nigeria a maritime hub in West Africa.

Explaining the approval, Sambo stated: “I’m pleased to announce to you and the general public that 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 development of the port and at the end of the concessionary period, the port reverts to the Federal Government of Nigeria through the Nigerian Ports Authority (NPA).

“The project cost as contained and approved in council based on the final business case as approved by the Infrastructure Concession Regulatory Commission (ICRC) in line with extant laws stood at $2.59 billion.

“It has to be developed in four phases with milestones and the concessional period of 45 years. Reversion is, like I said, to the Federal Government of Nigeria. This is to further the government’s goal of making Nigeria the maritime hub of the West and Central Africa sub-region.

“This project, it may interest you to know, will also generate total revenue of over $53.6 billion over the concession period. It will create about one quarter million jobs and also attract foreign direct investments to the country and help in improving Nigeria’s economy in general and the wellbeing of Nigerians.”

The council also justified the approval of the sum of N1,145,000,000.00 for the purchase of vehicles for the Niger Republic.

Following the outrage generated by the measure exposed by a popular social media influencer, David Hundeyin, on Wednesday, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, argued that even though Nigerians have the right to question, President Muhammadu Buhari, who approved the purchase also has the prerogative to make his own assessment on situations an act in the interest of the country.

Responding to questions on the matter, she said Nigeria has a policy of assisting its neighbours to strengthen its capacity to deal with insecurity.

The document released by the media influencer showed that the president approved the release of the fund on the 22nd of February this year.

It revealed that the contract to supply the 10 units of Toyota Land Cruisers were awarded to IFO Kaura Motors Nig. Limited.

Asked while the federal government was buying the vehicles for another country despite the economic situation of Nigeria, the Finance Minster said: “Let me just say that over time, Nigeria has had to support its neighbours, especially the immediate neighbours to enhance their capacity to secure their countries as it relates to us. This is not the first time that Nigeria had assisted the Niger Republic, Cameroon or Chad.

“The President makes an assessment as to what is required based on the request of their Presidents. Such requests are approved and interventions are provided.

“It is to enhance their capacity to protect their countries, as it relates to security and also to Nigeria.”

When told that Nigerians were complaining about the action, Mrs Ahmed responded: “Nigerians have the right to ask questions, but also the President has the responsibility to make an assessment of what is in the best interest of the country and I cannot question the decision myself.

“I have said that this is not the first time and that Nigeria as a country has provided intervention to our neighbours. It is in the best interest of Nigeria to do so.”

She said her ministry presented a memo to FEC, on the National Monitoring and Evaluation policy for the country, explaining: “The policy defines a framework for the institutionalisation of the practice of monitoring and evaluation (M&E) to promote good governance, learning and accountability for results that will contribute to improve the socio-economic development of the country and enhance the wellbeing of citizens.

“The policy clarifies how M&E should be conducted in the country, specify the position, institutional and financial arrangements and the modalities for feedback, especially from citizens so that decision-makers can make effective use of evidence by government and stakeholders to inform policy strategies and investment.

“The council approved the memo. This M&E policy was developed in close collaboration with the states, development partners, academia and several experts and associations of monitoring and evaluation in Nigeria.’

The Minister of Federal Capital Territory (FCT) Mohammed Musa Bello also revealed that he presented a memo to FEC
for the procurement of utility vehicles, security gadgets and associated accessories to support the security agencies operating within the Federal Capital Territory.

According to him, the items are 60 utility vehicles to be supplied by Coscharis Motors Limited, including communication equipment installed in the vehicles at the sum of N1,835,108,613.95 with a delivery period of two months.

He said in addition to that, the council approved the supply of various security gadgets and accessories to support security agencies in the FCT.

The contract for it was awarded Messrs E&S Technical Limited at the total sum of N847,139,764.57, making the total of these two procurements the sum of N2,682,248,378.52.

In his remarks, the Minister of Information and Culture, Lai Muhammed, said the Secretary to the Government of the Federation presented a memo to procure operational vehicles for the Independent Corrupt Practices and other related offences Commission (ICPC).

He said the ICPC made a request to procure 25 operational vehicles; 13 Toyota Hilux 2.7 litres and a Peugeot 3008 SUV for a total sum of N810,534,380.72.

He added: “The need for the procurement is based on the fact that the ICPC has increased its activities and this has been occasioned by improved management, expansion of the scope of operations, through the establishment of more state offices across the country, increase in personnel, among others.

“As you know, the ICPC, today, has also taken over supervision of consistency in projects. The memo request was approved and is to Messrs. Kaura Motors Limited.”

Before the commencement of the council meeting, President Buhari administered the Oath of Allegiance and the Oath of Office to three new Permanent Secretaries of the Federal Civil Service.

The new Permanent Secretaries are Lydia Shehu Jafiya (Adamawa); Udom Okokon Ekenam (Akwa Ibom) and Farouk Yusuf Yabo (Sokoto).

 

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FEC okays $2.59b for Badagry Seaport development