The Lagos State Government has reassured Nigeria’s port community that issues of the bad road will not be an inhibition to seamless cargo evacuation from Nigeria’s biggest and deepest seaport in Lekki.
Speaking at the Nigeria Lekki Deep Seaport Construction Completion ceremony in Lagos on Monday, Babajide Sanwo-Olu, the governor of Lagos State, said the state will keep to the promise of ensuring the completion of the road leading to the port from Eleko Junction to Ajah and from Eleko Junction back to the port.
“I am going to meet with the contractor in charge of the road construction to give them a marching order to ensure the completion of the 6-lanes highway to Lekki Port and to ensure that the road construction does not constitute any traffic gridlock during container evacuation,” Sanwo-Olu said.
He also urged the host communities to clear all the shanties along the right of way to provide ample ambiance to the transport system within the port city.
Earlier in his welcome address, Biodun Dabiri, chairman, Lekki Port Board of Directors, said the port will begin full commercial operations after the presidential commissioning which is expected to take place soon.
According to him, the Lekki Deep Seaport will contribute immensely to the growth of the Nigerian economy, creating about 170,000 direct and indirect jobs.
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He said the port is expected to generate approximately $361 billion during the period of the concession, and generate over $201 billion in revenue for both Lagos State and the Federal Government of Nigeria after the developer has fully liquidated the debt received to facilitate the port development.
He further said that getting a loan facility from China Development Bank to the infusion of equity capital in the sum of $221 million by China Harbour Engineering Company in the midst of an unprecedented global pandemic, aided the start of the construction of the port.
“On October 23, 2019, when the $629 million loan facility agreement with China Development Bank was signed, I said that the facility will enable the construction of the Port which will deepen Nigeria’s infrastructural capacity and have a transformational effect on the Nigerian economy,” Dabiri added.
He commended the EPC Contractor, China Harbour Engineering LFTZ Enterprise (CHELE), a subsidiary of China Harbour Engineering Company, the promoters, Tolaram & China Harbour and the shareholders including Lagos State Government, and the Nigerian Ports Authority for their support throughout the lifespan of the construction of the port.
Wu Di, vice president of CHEC who is also a director of Lekki Port, said that the construction of the Port started officially on June 15, 2020, and was completed on Monday, October 24, 2022.
He disclosed that the total contract value of the EPC for the project’s first phase is $581 million.
He added that the completion of the construction will now 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.
Dinesh Rathi, managing director of Lagos Free Zone (LFZ), expressed delight at the timely completion of the construction of the port.
He said that the port would further position LFZ as the next frontier for investment in Nigeria and increase foreign direct investment to Lagos State and Nigeria.
