Lekki Deep Sea Port, a multi-purpose, deep sea port in the Lagos Free Zone, has been commissioned by President Muhammadu Buhari on Monday in Lagos.
The president during the commissioning said the $1.5bn seaport is in line with his administration’s Economic Recovery Growth Plan (ERGP).
He said the government is ready to support game-changing infrastructure projects that can impact positively trade and commerce in the country.
Aljazeera reports that the new port is 75 per cent owned by the China Harbour Engineering Company and Singapore’s Tolaram Group, with the balance shared between the Lagos state government and the Nigerian Ports Authority.
The port has been operational since 2018—being developed in phases and completed in October 2022. Phase one of the port comprises three container berths equipped to handle more than 1.8 million TEUs — one berth for dry bulk goods and two berths for liquid cargo.
During commissioning on Monday, authorities said the port was built at $1.5bn—investments from governments and the private sector and a consortium of banks who have funded the project.
Lekki Deep Seaport occupies up to 90 hectares of land out of the 830 hectares of the Lagos Free Trade Zone.
The port has three terminals: the container terminal, the liquid terminal and the dry bulk terminal.
Lagos state governor, Babajide Sanwo-Olu said the seaport would contribute to reducing unemployment in the country.
“This magnificent infrastructure is a result of the combined efforts of the federal government, Lagos state government, and the private sector. It is going to generate thousands of jobs for citizens of Nigeria,” he said.