Roads & Construction
Lekki Deep Seaport: Checkout New Update From Nigeria’s First Deep Seaport (PHOTOS)
The Lekki Port has been ongoing for some time, the port which when completed will be one of the biggest in West Africa.
The Port at Lekki is a 21st-century built seaport in Lagos State, Nigeria. It was built from 2015 to 2018. It is the largest seaport of Nigeria. Lekki is to be expanded to have a capacity of handling around 6 million TEUs of containers and a significant volume of liquid and dry bulk uncontainerized cargoes.
The port is being developed in phases. Its phase one, been operational in 2018, chiefly comprises of three container terminals which are equipped to handle more than 1.8 million TEUs — one berth for dry bulk goods and two berths for liquid cargo.
The port is financed by private investors and a consortium of banks who have funded the project with $1.5 billion so far.
It will be recalled that the Lekki Deep Sea Port Project which is currently under construction at the Lagos Free Trade Zone in Ibeju-Lekki, Nigeria, has received an infusion of over US $221m equity funding from China Harbour Engineering Company (CHEC).
Lekki Deep Sea Port Project was awarded to Lekki Port LFTZ Enterprise Limited by Nigerian Ports Authority on a Build, Own, Operate and Transfer (BOOT) agreement. Under this agreement, LPLEL is required to develop, finance, build, operate the port for a period of 45 years and transfer it to NPA thereafter.
Upon completion, Lekki Deep Sea Port will be sub-Saharan Africa’s deepest port and Nigeria’s first deep seaport with a total of 3 container berths, 1 dry bulk berth and 3 liquid berths which are key in bridging the current capacity deficit of the port.
It is also expected to have significant positive impact estimated at US$361B over the term of concession and it is also expected to contribute more than US$200B to the government exchequer in addition to creating close to 170,000 new jobs. Furthermore, Lekki Deep Sea Port will spur the economic development around the Lekki sub-region and the wider Lagos State through rapid industrialization.
Part of what the seaport has been able to achieve is the successful construction of the breakwater which helps to stop the overflow of water from the sea.
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