$1.5 Billion Lekki Deep Seaport Completed, to Create 200,000 Direct Jobs

With enthusiasm, the contractor handling Lekki Port, China Harbour Engineering Company (CHEC) announced the completion of Lekki Deep Seaport yesterday.

The Deep Seaport which is scheduled to be commissioned by December 2022 is expected to create more than 200,000 direct jobs within the communities around the port, according to Lagos State Government. 

Speaking at the handing over ceremony, Lagos State Governor, Babajide Sanwolu noted that the monumental project will further position Nigeria, particularly Lagos State as a leader in trade and commerce within the West African region. 

Investors King learnt that Lekki Deep Seaport will serve other neighbouring countries in West Africa, such as Ghana and Togo. The port has been projected to be one of the most modern seaports in West Africa and Sub-Saharan Africa.

While appealing to the community shareholders within the port to give it all the necessary support, the governor thereafter pledged that his administration will expand the roads leading to the port to a six-lane facility. 

This he hoped will help to ensure a seamless evacuation of cargo from the seaport. 

“We will stop at nothing to complete the roads leading to the port, all the shanties along the road will be cleared to give way for the expansion of the roads,” he added. 

Meanwhile, the port is expected to generate $361 billion in revenue for its stakeholders which include Tolaram Group, Lagos State Government, and Nigeria Port Authority.

Upon commencement of operation, Lekki Deep Seaport will function with three container berths, long dry bulk berths, and three liquid berths. The multipurpose port will handle close to 1.5 million Twenty Equipment Units (TEUs) of containers annually. 

The Vice President of CHEC, Mr. Wu Di revealed that the construction of the port started on June 15, 2020, and was officially completed on October 2022. 

The port was jointly financed by six banks which include African Development Bank (AfDb), European Investment Bank (EIB), Standard Chartered Bank (SC), Africa Finance Corporation (AFC), RMB, and Standard Bank (SB).