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Tag: Lekki Deep Sea Port

  • Fed Govt to replicate Lekki Deep Sea Port model nationwide, says Oyetola

    Fed Govt to replicate Lekki Deep Sea Port model nationwide, says Oyetola

    The federal government has unveiled plans to replicate the success of the $1.5 billion Lekki Deep Seaport across the country, describing it as a model for transformative growth in the maritime industry.

    Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this on Tuesday in Lagos at the Nigerian Chamber of Shipping Breakfast Meeting themed “Unlocking Opportunities: The Lekki Deep Seaport Playbook for Trade and Shipping in Nigeria.”

    He said President Bola Tinubu’s administration is committed to building a modern, safe, efficient and globally competitive maritime sector, with the Lekki project serving as a template.

    “The maritime industry stands at the heart of our economic aspirations — not merely as a conduit for trade, but as a catalyst for industrial growth, job creation, and regional integration. Our vision is clear: to build a modern, safe, efficient, and globally competitive maritime sector that fully unlocks Nigeria’s economic potential,” Oyetola said.

    He explained that the Lekki Deep Seaport, with a capacity to handle 1.2 million twenty-foot equivalent units (TEUs) and accommodate some of the world’s largest vessels, has already created thousands of direct and indirect jobs. He added that improved road access has freed Lagos ports from decades-long congestion.

    “Cargo now moves out faster, investors move in with confidence, and trade flows without unnecessary delay,” the minister noted.

    Though currently operating at just 20 per cent of its installed capacity, Oyetola said the Lekki Port remains a “landmark achievement” and a “game-changer” for West Africa, offering vast untapped opportunities for investors.

    According to him, the “Lekki playbook” rests on five pillars: strategic location, robust public–private partnerships, integrated transport links, supportive policies, and technology-driven operations.

    Building on this model, Oyetola disclosed that the government is modernising the Apapa and Tin Can Island Ports and upgrading the Eastern Ports in Onne, Calabar, and Rivers State.

    He said, “Under the leadership of President Bola Ahmed Tinubu, GCFR, this administration is committed to taking the lessons of Lekki and applying them nationwide to transform our entire port system into a network of modern, efficient, and competitive gateways.

    Read Also: Oyetola: Nigeria eyes Africa’s top marine economy spot

    “To this end, we are modernising the Western Ports in Apapa, upgrading the Eastern Ports in Onne, Calabar, and Rivers to stimulate balanced regional growth, and finalising the Port Community System — integrated with the National Single Window — to create a paperless, transparent, and secure digital environment for all maritime stakeholders.”

    On indigenous participation, the minister announced that he has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence immediate disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners.

    He stressed that building a strong national fleet and establishing a National Flag Carrier remain crucial to strengthening local capacity and asserting Nigeria’s presence on global trade lanes.

    Concluding, Oyetola described the Lekki Deep Seaport as “clear evidence of what can be achieved when policy, vision, investment, and execution align,” urging stakeholders to replicate and scale the model for Nigeria’s prosperity.

    The Breakfast Meeting attracted heads of government agencies, representatives of terminal operators, shipping companies and the organised private sector. 

  • Tinubu commissions Lekki Deep Sea Port access road, flags off key highways

    Tinubu commissions Lekki Deep Sea Port access road, flags off key highways

    President Bola Ahmed Tinubu on Thursday commissioned the Lekki Deep Sea Port Access Road in Lagos State, describing it as a strategic investment to boost trade, agriculture, and regional connectivity.

    Speaking at the ceremony in Lagos, Tinubu emphasised that roads are not just physical structures but key enablers of economic growth, job creation, and national integration under his administration’s Renewed Hope Agenda.

    Constructed under the Tax Credit Scheme, the reinforced concrete road links the Lekki Deep Sea Port to major transport corridors, facilitating efficient cargo movement and improving logistics.

    Read Also: Wike applauds Tinubu’s bold leadership at OAU lecture

    The President also flagged off Section II of the Lagos-Calabar Coastal Highway and the 7th Axial Road, alongside several ongoing road projects across northern Nigeria, including the Kano–Kongolam Road and the Yakasai–Zalli Road.

    “These roads are vital to unlocking economic opportunities and improving the lives of Nigerians,” Tinubu said.

  • Lekki deep sea port to generate $201 billion, says deputy speaker, Kalu

    Lekki deep sea port to generate $201 billion, says deputy speaker, Kalu

    Deputy Speaker of the House of Representatives, Benjamin Kalu said on Thursday that Lekki Deep Sea Port is designed to generate over $201 billion in revenue for the federal and state governments and create more than 169,000 direct and indirect jobs. 

    Speaking at the commissioning of Lekki Deep – Sea Port Access Road, Section 1 and other key projects in Lagos by President Bola Tinubu, Kalu highlighted the significance of the projects in connecting the country and fostering economic development.

    He said the Lekki Deep Sea Port Concrete Road is not just concrete and tar; it is the spine of economic transformation. 

    He said, “This vital artery connects one of West Africa’s deepest and most advanced seaports to Nigeria’s logistics and industrial backbone, unlocking the potential of Africa’s largest oil refinery and repositioning Nigeria as a hub for global maritime trade. 

    “With the capacity to handle 1.2 million TEUs annually in its first phase and up to 2.7 million TEUs as it scales, this port is not just a national asset; it is a continental gateway. Its ability to accommodate vessels of up to 18,000 TEUs marks a new era in our port capacity and trade competitiveness.

    “More than steel and scale, the port embodies strategy. It is expected to generate over $201 billion in revenue for the federal and state governments and create more than 169,000 direct and indirect jobs. 

    “This is not conjecture; this is the blue economy in motion. A functioning, efficient, and automated deep-sea port like Lekki reduces port congestion, enhances turnaround time, and positions Nigeria to reclaim maritime business previously lost to neighbouring countries. 

    “This is the infrastructure of vision, not only aligning with Nigeria’s Blue Economy strategy, but also reinforcing our obligations under the African Continental Free Trade Area (AfCFTA). This is how we build prosperity—one road, one port, one coordinated policy at a time. 

    “These roads connect Borno to Lagos, Kano to the South-East, and Katsina to the Middle Belt. In a nation sometimes tugged by the currents of division, infrastructure is a glue that binds. A well-paved road is also a well-paved path to national cohesion.

    “Let us remember: Nigeria’s greatness is not in isolation of its regions, but in their integration. When we invest in roads, we are investing in unity. When we open up ports, we are opening up possibilities for every Nigerian child, regardless of whether they are from the north or the south. 

    “Mr. President, thank you for your vision and people-centred leadership. To the ministers, thank you for execution. To the Nigerian people, these roads are yours; use them, protect them, own them”, he said. 

    The Deputy Speaker pledged the commitment of the House to supporting initiatives that uplift Nigerians’ livelihoods and strengthen the economy

    “As the People’s House, we have passed the highest infrastructure capital allocation in a decade. Through the House Committees on Works, Appropriations, and National Planning, we have ensured oversight that promotes value for money. Our recent legislative support for the Federal Roads Authority Bill and the National Infrastructure Development Fund is proof that we are committed to sustainability, not just ceremony.

    “Let future generations say that in our time, Nigeria moved not just physically, but purposefully, toward prosperity.

    Let the roads rise to meet us, and let our unity rise even higher”.

    The Deputy Speaker emphasized the importance of infrastructure development in driving Nigeria’s economic growth and unity, adding that besides this particular road, the Tinubu led administration has also executed other strategic infrastructure projects around the country. 

    Specific projects include the Kano-Maiduguri corridor, spanning over 500 kilometers. 

    Kalu said: “The roads being commissioned today are arteries of national integration that connect not only places, but people and farmers to markets, youth to opportunities, and communities to the heart of the nation.

    Read Also: Boko Haram backed by political elites to undermine Tinubu, Orji Kalu alleges

    “The Kano–Maiduguri corridor, spanning over 500 kilometres, is crucial to more than 60 million Nigerians across six states. It is a lifeline for trade between Nigeria and the Lake Chad Basin.

    “The Maiduguri Ring Road will enhance urban mobility, decongest traffic, and accelerate the ongoing post-conflict recovery in Borno State. The Kano Northern Bypass is a strategic decongestion route, facilitating trade flows for over 1,000 trailers daily, many bound for the Niger Republic and Chad.

    “Only recently, Mr. President also commissioned the Lagos-Calabar Coastal Highway, the Enugu-Onitsha Carriageway, the Nembe-Brass Road, and the Ibadan-Ife-Ilesha-Akure-Benin corridor—affirming that no region is left behind in our march toward connectivity and shared prosperity.”

    While saying that infrastructure is crucial for national integration and unity, Kalu cited the World Bank’s finding that every 1% increase in road density reduces rural poverty by 0.2% in low-income countries, underscoring the impact of infrastructure development on poverty reduction.

    “According to the World Bank, every 1% increase in road density reduces rural poverty by as much as 0.2% in low-income countries. Infrastructure is not expenditure, it is investment in dignity, development, and destiny.”

  • UNIDO fine-tunes Edo Industrial Policy after stakeholders’ parley

    The Edo State Governor, Mr. Godwin Obaseki’s resolve to industrialize the state has gotten a new lease of life, with work in advance stage for the Edo Industrial Policy, a landmark policy document being developed in partnership with the United Nations Industrial Development Organisation (UNIDO).

    After an initial draft of the policy, the state government had organised a Stakeholders Workshop, where it engaged with businesses and other players in the state’s industrial sector to get their input in the policy.

    Edo State Focal Person for the Industrial Policy, Mr. Kelvin Uwaibi, in a chat with journalists, said that experts from UNIDO are putting finishing touches to the policy document, noting that when ready, the governor, who mandated its development, will graciously see to its implementation.

    “From the government side, we are very optimistic about the document as it will drive coordinated, impactful industrialization in the state. The good thing about the document is that it accommodates the interest of all, such that artisans, Micro, Small and Medium Enterprises (MSMEs), as well as the big players in agro-allied industries and manufacturing can contribute to the sector” he said.

    Read Also: ‘No imposition of candidates by Edo APC’

    Noting that the Edo State government is keen on tapping its human and natural resources to drive inclusive growth, Uwaibi said, “We have a number of big-ticket investments in the offing. The governor has already released funds for the commencement of the Edo Modular Refinery, which shows how serious we are. There is the Benin River Port, for which advance work has been carried out. It is linked to the Lekki Deep Sea Port, as the same Chinese company, China Harbour Engineering Company (CHEC) Ltd., is handling both projects. We also have the Benin Industrial Park.”

    He said the Edo Industrial Policy would map out how all these projects will be linked and how local actors will be aligned to tap from the immense opportunities for jobs, wealth creation and inclusive growth.

    “After fine-tuning the document, UNIDO will help in its implementation to ensure a coordinated, participatory approach to its realization. This ensures that as the state creates space for the big industries, the local ones are hooked up to them to provide needed local expertise and capacity to deliver on projects,” he added.

  • Buhari pays two-day visit to Lagos

    President Muhammadu Buhari will on Thursday begin a two-day official visit to Lagos State, the Commissioner for Information and Strategy, Mr. Kehinde Bamigbetan said on Wednesday.

    According to Bamigbetan, the President, will during the course of his visit carry out some groundbreaking ceremonies and inspect some ongoing projects in the State.

    He said the President, on arrival, will attend the Colloquium organised to mark the 66th Birthday of the National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu scheduled to hold at the Eko Hotels and Suites, Victoria Island, Lagos on Thursday.

    He said the President would perform the official flag-off ceremony for the construction of the Lekki Deep Sea Port project, Ibeju Lekki.

    Bamigbetan said on completion, the multi-purpose Lekki Deep Sea Port, located at the heart of the Lekki Free Trade Zone, would be one of the most modern ports in West Africa, offering enormous support to the growing commercial operation across Nigeria and the entire West African region.

    He said the President would also inspect the ongoing construction works at the Eko Atlantic City, Victoria Island.

    He said the Eko Atlantic City Project, a planned city being constructed on land reclaimed from the Atlantic Ocean, is projected to accommodate at least 250,000 residents and a daily flow of 150,000 commuters, adding that the development will also have a positive environmental impact, as it will help in stopping the erosion of the State’s coastline.

    The Commissioner said the President would also commission the Ikeja Bus Terminal, expected to commute over a 100,000 residents across 23 bus routes in the State.

    According to him, the Ikeja Bus Terminal is part of the comprehensive plan to redefine public transportation which the present administration is implementing across the State.

    Aside the Ikeja Terminal, the Tafawa Balewa Square Bus Terminal has been commissioned, while work is ongoing in Yaba, Oyingbo, Ojota, Agege and other areas.

    It would be recalled that the State’s Commissioner of Police, Imohimi Edgal had on Tuesday announced traffic diversions and alternative routes ahead of the President’s visit assuring that adequate preparations have been made to mitigate the impact of the road diversions on residents, while access would be given to any emergency situation.

    The State Government had also declared Thursday, March 29 as work free day to ease movement in and around the State as well as enable Lagosians come out enmasse to welcome the President.

    Read Also: Lagos declares tomorrow work-free day for Buhari’s visit

  • Work to begin on Lekki Deep seaport July

    Construction of Lekki Deep Sea Port in Lagos will begin in July, its Managing Director, Mr. Haresh Ascoani, has said

    The contractor, China Harbor Construction, he said, will move to the site that month.

    Ascoani spoke during a visit to the Free Trade Zone where the port is sited, with him were top Nigerian Ports Authority (NPA) officials led by their Managing Director Mallam Habib Abdullahi.

    The Federal Government, it was gathered, has committed about $118 million to the development of the port, which is e3xpected to cost $1.5 billion.

    Abdullahi said the government has not reneged on its commitments towards the project.

    The government, he said, initially paid N1 billion as part of its commitment to the project.

    He said the government’s stake in the project is $118 million, adding that balance is captured in NPA’s 2015 budget.

    ”The total amount of the Federal Government’s stake in this project is $118 million, what we had as at last year was N1 billion and we have already paid that. We have already started making payment on this, because there was an allegation that the Federal Government has not made payments, this is not correct, we have already paid part of our own dues as at last year.

    “For the year 2015, we have made enough provision to pay up the remaining amount that is due to us, it is still with the Senate, but we have already made an agreement with them and we will pay it up to the end of the year,” he said.

    When completed, Abdullahi said the project would be an eye- opener that will attract other investors, adding that it will also inspire the construction of other proposed deepsea ports like the Badagry Deepsea; also in Lagos, Olokola Port Project in Ogun State, the Ogidigben port project in Delta State, and the Ibom deepsea port in Akwa Ibom State.

    “It is going to drive the economy, it will bring economic growth to the nation. It will bring employment, it will bring export promotion and it is going to transform the economy of this country as promised by Mr. President,” he said.

    Ascoani said that some of the financial institutions backing the project include; African Development Bank, European Investment Bank, Standard Bank, Standard Chartered Bank and Diamond Bank; adding that there will be a financial close by September 2015.

    According to him, the port will take approximately 40 months to be built and when fully completed, the Lekki Free Trade Zone would be the largest industrial city in Nigeria.

    He added that investments that will be coming into the region when it is fully operational will exceed $25 billion.

    While we are building the port, industries will come up to build their projects knowing that the port is coming up, cumulatively it is all a 10-year programme.”

  • FEC approves Lekki Deep Sea Port project

    FEC approves Lekki Deep Sea Port project

    The Federal Executive Council (FEC) on Wednesday approved the first ever Deep Sea port in Nigeria to cost over N216 billion ($1.354 billion)

    The Minister of Information, Labaran Maku and his Transport counterpart, Idris Umar disclosed this while briefing State House correspondents at the end of the FEC meeting presided over by Vice President Namadi Sambo.

    The Lekki Deep Sea port, which has been on the drawing board for several years with anticipatory approval received about ten years ago, will now be completed in the next four years.

    Its completion will end the present congestions at the various ports in the country including the Apapa port.

    Maku said: “Current administration, seeing the huge benefit of the project, had taken over the project to be executed under a Public-Private-Partnership arrangement, while federal government also renegotiated the concessionary period in favour of Nigeria from 50 down to 45 years.”

    The Federal government, he said, is expected to contribute 20 percent equity on the port designed to handle the largest vessels in the world, while Lagos State Government will contribute 18.5 percent. Private investors are contributing 61.85 percent.

    Designed to handle 4 million tonnes of cargoes, he said the port is expected to cover an area of 90 hectars with provision for expansion, 6 kilometers and the width of the Channel leading to the port is put at 200 meters to be dredged to a depth of 17.5 meters, with a width of 300 meters, making it the deepest in West Africa.

    He said the Nigerian Ports Authority (NPA), is expected to reap over $9.3billion, made up of $2.6 billion from marines’ services and royalty and $6.7 billion from share of profits from the investments.