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Home Business News Business

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

Chike Olisah by Chike Olisah
August 1, 2022
in Business
seaports, cargo scanning, NCS
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The Lekki deep seaport is inching ever closer to completion as the project is now 95.65% complete as the board, management, shareholders, project managers and contractors are still focused on ensuring that the construction is completed by September 2022.

The project which was at 80% completion stage as of January 2022, will be the first seaport to be fully automated at take-off.

This disclosure is contained in a statement issued by the Lekki deep seaport on Monday, August 1, 2022, and can be seen on its official Twitter account.

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It also stated that the wait for a deep seaport with an efficiently operated terminal is over as the seaport is expected to commence operations by the end of 2022.

What the statement is saying

The statement reads, “We are delighted to announce that the construction of Lekki Port is now at 95.65% completion. Our management, board of directors, shareholders, EPC Contractors and the project manager remain focused on our objective to complete construction by September 2022 and start port operations by the end of the year.

‘’The wait to behold a deep seaport with a container terminal operated with efficiency and world-class standards in Nigeria is almost over!’’

What you should know

  • Recall that a few days ago, Nairametrics had reported that President Muhammadu Buhari had approved the designation of Lekki Deep Seaport as a customs port and approved wharf.
  • The Managing Director of NPA, Mr Mohammed Bello-Koko, also had in a letter through the Federal Ministry of Transportation, secured the approval for the port to be gazetted in line with extant laws.
  • The authority also said that with the approval and level of preparedness, the port is set for berthing commercial vessels before year-end.
  • The Lekki Deep Seaport, designed to be a significant game-changer in Nigeria’s maritime economy and constructed by China Habour Engineering firm, is a $2 billion investment in the Lagos Free Trade zone initiated by Tolaram Group, a Singaporean company.
  • The deep seaport is expected to generate huge job opportunities for Lagos residents as well as boost the Federal Government’s efforts to decongest the Lagos ports in Apapa and Tin Can.
  • The Lagos State Governor, Babajide Sanwo-Olu, had in March 2021, said that the Lekki Deep Seaport is expected to begin operations by the first quarter of 2023, as the construction firm, China Habour Engineering firm had made tremendous improvement with the project.
  • The Minister of Information and Culture, Lai Mohammed, had in May 2022, said that the project is expected to bring revenues of about $201 billion to federal and state governments through taxes, royalties and duties as well as an aggregate impact of $361 billion in 45 years upon the commencement of operations

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Tags: Lekki Deep Seaport
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 1

  1. SANNI ANOFI AGBOOLA says:
    August 2, 2022 at 6:45 am

    This is one of the greatest achievements of Buhsri government. If every other factors remain constant the economic value of this project can never be overemphasised. But my major concern is the social effect of this project I mean to what extent are they ready to cooperate with we the bona-fide residents what are the opportunities to be given to us ?,I think there should be representatives between the company and the people so that information will not be kept far away.what will be the comparative advantage of the residents in term of employment and other social benefits. If all this could be addressed there won’t be social and communal issues. The management of this company should not mistakingly leave the externalities to government alone, they should be ready for collective responsibilities. My opinion.

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