In 2016, we profiled 3 major projects under construction within Ibeju Lekki that was set for completion in the years ahead. These projects included: the Dangote Group’s refinery and Petrochemical park, the Lekki Deep Sea Port, and the Ibeju Lekki-Epe Expressway.
Fast forward to 7 years later, we are excited to see that the Dangote Group’s Refinery and Petrochemical Park and the Lekki Deep Sea Port are scheduled for completion this year.
As highlighted in our previous article, these projects will support commercial growth and encourage even more property development in Ibeju Lekki.
In addition, the Refinery and Petrochemical Park is expected to meet all Nigeria’s needs for refined products with a surplus for exports.
An additional project that has also been completed is the Dangote Fertiliser Plant, which was commissioned on March 22, 2022. The plant cost $US 2.5 billion and occupies 500 hectares of land thereby making it the largest granulated urea plant in Africa and second-largest in the World according to Aliko Dangote, CEO of Dangote Industries Limited. The project team included Sapiem as its Main Contractor, a renowned engineering company with major projects in the engineering and infrastructure sectors.
Below is a brief update on the projects, their updated completion dates, and capacities:
Start date: 2016
Expected Completion date: Q3: 2022
Sponsor: Dangote Industries Limited
Capacity: 650,000 barrels of crude oil per day
Expected Completion date: Q3: 2022
Sponsors: China Harbour Engineering Company Limited, Tolaram Group, Lagos State Government, Nigeria Ports Authority
Capacity: 2.7 million TEUs (Twenty ft equivalent unit) per annum
Start date: Q4: 2020
Expected Completion date: Q1:2022 according to the Lagos State Government as stated at the beginning of the project. However, we don’t expect this to be the case due to delays.
Sponsor: Lagos State Ministry of Works and Infrastructure
Length: 18.75 kilometres
Completion date: Q1:2022
Sponsor: Dangote Industries Limited
Capacity: 3 million metric tonnes per day
Overall, the completion of these different projects is expected to positively affect the GDP of the country by reducing imports and increasing exports. This can be seen from their expected outputs; the fertiliser plant adds 3 million metric tonnes of fertiliser daily, the refinery adds 650,000 barrels of crude daily, and the deep sea port would aid exports and imports with 2.7 million TEUs per annum.
We love your feedback! Let us know your thoughts on what these infrastructural projects mean for the Ibeju-Lekki area by sending an email to insights@estateintel.com.
