Minister of Marine and Blue Economy, Adegboyega Oyetola, has projected that the Lekki Deep Sea Port will deliver over $200 billion in government revenue within its 45-year concession period.
Speaking yesterday at a breakfast meeting organised by the Nigerian Chamber of Shipping in partnership with Lekki Port in Lagos, Oyetola said the port has already started easing congestion in Lagos and other Nigerian ports since the commencement of commercial operations.
According to him, the world-class infrastructure at the port is boosting Nigeria’s competitiveness as a logistics hub while offering vast untapped opportunities for investors and operators.
Managing Director of Lekki Port, Wang Qiang, in his remarks, said the facility was built with cutting-edge infrastructure, including Post Panamax Ship-to-Shore Cranes capable of unloading vessels twice as fast, thereby reducing logistics costs.
Qiang disclosed that the port is expected to generate $361bn economic impact over 45 years and $201bn in revenue to state and federal agencies through taxes, royalties, and duties.
He added that the port has already begun transshipment operations, positioning Nigeria to reclaim maritime business lost to West African neighbours and support regional trade, including the needs of Continue ..You.. Reading
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