• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Business

FG says Lekki Deep Seaport to commence activities in September, to contribute $360 billion to GDP

...reiterates the need for a rail system that would convey both liquid and dry cargoes out of Lagos.

William Ukpe by William Ukpe
March 14, 2022
in Business
FG says Lekki Deep Seaport to commence activities in September, to contribute $360 billion to GDP
Share on FacebookShare on TwitterShare on Linkedin

The Federal Government of Nigeria disclosed that commercial activities at the Lekki Deep Seaport are expected to commence in September, citing that the port will contribute $360 billion to Nigeria’s GDP.

This was disclosed by the Transport Minister, Rotimi Amaechi in a statement on Sunday, after inspecting the project.

The Minister assured that the port is automated, emphasising that it would be something close to the DP wall in Dubai.

RelatedStories

FG, States and LGAs share N1.35 trillion as FAAC allocation in June

FEC approves $651.7 million for 7th Axial Road project linking Lekki Deep Seaport to southern, northern states 

May 6, 2025
Lekki Deep Seaport receives first LNG powered vessel

Lekki Deep Seaport receives first LNG powered vessel

January 30, 2024

Read: Lekki Deep Seaport: A game changer and West Africa’s deepest seaport – FG

What the Minister is saying

The Minister said that he is impressed with the progress of work, adding that commercial activities would commence in September.

He said, “Inspecting the Lekki Deep Seaport today, there’s huge improvement compared to the last time we visited. The management has assured that the cranes would arrive in June, while commercial activities would commence in September.”

“The Port is estimated to contribute about $360b to Nigeria’s GDP.

”This is a privately funded project, over time they will collect their revenue from commercial activities before they hand over to the Federal Government through NPA.

Read: Firm to establish $2.9 billion deep seaport at Escravos, Delta

”Obviously taxes will be collected here,  even them, they will pay taxes.

”I doubt there is tax exemption, so we will collect taxes and I must say that the confidence in giving them the project is because of the taxes that we will collect.”

  • On the contribution of the port to GDP,  he added the growth of the economy will put pressure on the expansion of the project.
  • ”The argument we have in the cabinet is that the need for Lekki is as a result of the fact that the demand for  port activities have exceeded the supply of Tin Can and Apapa ports around Lagos.
  • ”We have more ports than the country needs for now because manufacturing is a big problem in Nigeria coupled with the fact that this is the first seaport in Nigeria.
  • ”Right here you have 16.5meters of drought which is good for the country but the country needs more than just one.
  • ”This is because they no longer manufacture those 11meters vessels,  they now go between 16meters and above. So, we need just more than Lagos deep seaport.
  • ”And I think that is why for me  before I leave office I will emphasise on the construction of the Bonny Deep Seaport,” he stated.

Read: Promoters of Badagry Deep Seaport are dragging FG to court; here’s why

The minister explained that the project when completed would create more economic activities and jobs for teeming youths among other things. He stated that measures were in place to ensure the ports were automated and of international standard.

”Everything is automated, from the gate till you get here. So you will see something close to what you have in DP wall in Dubai and what you have in Singapore,” he said.

  • On rail,  Amaechi reiterated the need for a rail system that would convey both liquid and dry cargoes out of Lagos through the ports,  saying if this was not done there would be a problem.
  • The minister also said that there was a need for extension of the land to enable completion of the project and urged the Nigerian Ports Authority (NPA) to discuss with the Lagos State government on the issue.

In case you missed it

  • Nairametrics reported earlier this year that the Minister for Transportation, Rotimi Amaechi, pushed for an early completion date for the Lekki Deep Seaport project as he urged the contractors to speed up work to enable government to approve all necessary processes before the next general election.

Follow us for Breaking News and Market Intelligence.
Tags: Lekki Deep Seaport
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Real Estate and Construction

FEC approves $651.7 million for 7th Axial Road project linking Lekki Deep Seaport to southern, northern states 

May 6, 2025
Lekki Deep Seaport receives first LNG powered vessel
Business

Lekki Deep Seaport receives first LNG powered vessel

January 30, 2024
10 things you need to know about Lekki Deep Seaport
Business News

10 things you need to know about Lekki Deep Seaport

January 28, 2023
Ondo Port: NPA says $1 billion Seaport to get approval
Business

Lekki Port to contribute $361bn economic impact in 45 years – ICRC

January 24, 2023
Lekki
Business

Lekki deep seaport set to create 112,000 jobs, berth largest ship in the world – Minister of Transportation

August 21, 2022
seaports, cargo scanning, NCS
Business

Lekki deep seaport now 95.65% complete, to be fully ready by September 2022

August 1, 2022
Next Post
How Nigeria can take advantage of the Russia-Ukraine war – LCCI President

How Nigeria can take advantage of the Russia-Ukraine war - LCCI President

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • Multi-Currency B2B Payments: How to simplify your workflow 
  • Lafarge reports 233.9% surge in Q2 profit as half-year earnings hit N199.7 billion, on booming cement sales 
  • Microsoft, Google, Apple top phishing targets in Q2 2025 — Check Point Report 

Follow us on social media:

Recent News

Multi-Currency B2B Payments: How to simplify your workflow 

Multi-Currency B2B Payments: How to simplify your workflow 

July 22, 2025
Lafarge Africa posts N152.2 billion pre-tax profit in 2024, declares a final dividend of 120 kobo  

Lafarge reports 233.9% surge in Q2 profit as half-year earnings hit N199.7 billion, on booming cement sales 

July 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics