The federal executive council (FEC), on Wednesday, approved the development of the Badagry deep-sea port.
Tolu Ogunlesi, special assistant to President Muhammadu Buhari on Digital & New Media, said this in a tweet on Wednesday.
FEC Approves Development Of $2.59bn Badagry Deep Seaport
According to Ogunlesi, the project is estimated to cost $2.594 billion and would be fully financed by private Investors.
The project would be concessioned for 45 years.