Construction work on the biggest seaport in Nigeria has been completed, a major step toward Africa’s largest economy breaking through a bottleneck in international trade and achieving accelerated economic growth.
Lekki Deep Sea Port, with a berthing depth of 16.5 meters, is a landmark project in the city of Lagos with a total investment of $1 billion. It is the first deep seaport in Nigeria and will be able to handle 1.2 million containers annually, increasing the country’s container handling capacity by up to 80 percent, according to China Harbour Engineering Co, the port’s builder.
The Vice President of CHEC, Mr. Wu Di, who also doubles as a Director of Lekki port at the construction completion ceremony, disclosed that the construction of the port officially started on June 15, 2020, and was completed on Monday, October 24, 2022.
This was as the Lagos State Governor, Babajide Sanwo-Olu, assured that his government was working hard to provide ample ambience for transportation infrastructure, saying that works are ongoing to develop a six lane road network in the Ibeju-Lekki port axis to avoid traffic congestion
Di revealed that the total contract value of the EPC for the project’s first phase was $581 million.
He added that the completion of the construction would pave the way for the container terminal operator, the Lekki Free Port Terminal (a subsidiary of CMA/CGM group), to take over the Port in readiness for the start of port operations.
Sanwo-Olu expressed delight with the completion of the construction of the port.
Sanwo-Olu reaffirmed Lagos State Government’s commitment to the timely delivery of the road infrastructure network around the Ibeju Lekki axis to ensure the seamless evacuation of cargo from the port.
He also called on both local and foreign investors to invest in the state, adding that the zone was specifically designed for encouraging investments into the State.
In his remarks, the Chairman, Board of Directors, of Lekki Port, Mr. Biodun Dabiri, expressed appreciation to the promoters of the project, CHEC and Tolaram, for the bold decision to invest in maritime infrastructure which would help in Nigeria’s journey to economic prosperity.
Dabiri acknowledged the critical role played by Sanwo-Olu in resolving the various challenges encountered in the construction of the port, especially during the COVID-19 pandemic and attendant lockdown.
Lekki Port has been described severally, as a game changer that would boost the growth of the Nigerian economy, creating about 170,000 direct and indirect jobs, generating approximately $361 billion during the period of the concession, and generating over $201 billion in revenue for both Lagos State and the federal government.
