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Nigeria Signs MoU for $2.5 Billion Badagry Deep Seaport APM Terminals and Badagry Port Development Limited signed an MoU on September 7 to explore the greenfield Badagry Deep Seaport in Lagos State, a $2.5 billion project under a 45-year concession to handle larger vessels and boost transshipment. The agreement aligns with President Tinubu's goal of making Nigeria West Africa's trade hub, with APM committing to economic growth amid talks on extending existing port concessions. While some criticize the Lagos focus over ports like Calabar and Warri, officials highlight ongoing deepwater projects elsewhere and note private investors prioritize viable sites.
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