President Muhammadu Buhari on Monday commissioned the $1.5bn Lekki Deep Sea Port located at the Free Trade Zone in Lagos state.
The president was joined to commission the historic project by Governor Babajide Sanwo-Olu of Lagos State; South West governors, Minister of Transportation, Muazu Sambo; Chinese Ambassador to Nigeria, Cui Jianchun; top government officials; and traditional rulers.
Here are quick facts about the Lekki Deep Seaport, the biggest seaport in Nigeria and one of the largest in West Africa.
-The seaport, projected to be a significant game-changer in Nigeria’s transport and maritime economy is a joint venture between the Federal Government through the Nigerian Ports Authority (NPA), the Lagos State Government, the Tolarams Group (the owner of the Lagos Free Zone), and China Harbour Engineering Company (CHEC).
-The multi-Purpose facility is expected to create about 170,000 direct and indirect jobs and generate over $201 billion in revenue for both Lagos State and the Federal Government of Nigeria. It is projected that the port will have an aggregate impact of approximately $361bn on the Nigerian economy over the time of concession.
-Other economic impacts expected from the port include direct and induced business revenue impact of $158 billion, qualitative impact on manufacturing, trade and commercial services Sector.
-The port which has three terminals is projected to berth four times the size of vessels that currently berth at Apapa and Tin Can Island Port.
-The first commercial vessel CMA-CGM owned by French shipping company berthed at the port on Sunday, January 22, with more vessels expected in the days ahead.
-In terms of ownership, the Lekki Port Investment Holding owns 75% shareholding of the deep sea port, CHEC 52.5%, Tolaram 22.5%, the Lagos State government 20%, and NPA 5%.
-The port was constructed by China Habour Engineering LFTZ Enterprise, a subsidiary of China Habour Engineering Company Limited (CHEC). The project started on 15 June 2020 and was completed on Monday, October 24, 2022.
