By Correspondent in Lagos.
The Lekki Deep Sea Port, inaugurated by President Muhammadu Buhari on Monday in Lekki,Lagos,will contribute over $8 billion to the Nigerian economy annually.
President Buhari applauded the promoter of the Lekki port for achieving the feat, expressing delight that it would significantly boost the nation’s economy.
Our reports that the occasion is part of the president’s activities during his two-day official tour of Lagos State.
Lekki port, the first deep seaport in Nigeria, will have a concession term of 45 years, contributing $361 billion to the GDP.
The Infrastructure Concession Regulatory Commission (ICRC) gave the revenue profile of the port in a statement after its inauguration.
ICRC described the project as a major success story in public-private partnership in infrastructure development in Nigeria and put the value of the project at $1.5 billion in assets and $800 million for construction of all its phases.
Mr Du Ruogang, Managing Director of ICRC, said the port would boost Nigeria’s Gross Domestic Promote and facilitate trade volume.
Ruogang said the port would improve Nigeria’s external trade competitiveness through improved port efficiency and cost-effective port operations and services.
It will also improve turnaround time for cargo handling and clearance, he said.
The Reporters gathered that the Federal Government owns five per cent stake in the port while Lagos State holds 20 per cent.
The Lekki Port Investment Holding Inc. owns the remaining 75 per cent.
Gov. Babajide Sanwo-Olu of Lagos State described the project as the biggest infrastructure in the whole of West Africa.
Sanwo-Olu added that the port would generate thousands of jobs in the country.
He stated the multi-billion-naira project “is a collaboration between the Federal and Lagos State government as well as the private stakeholders.
The governor expressed joy that the execution of the project began and reached completion under Buhari’s administration’s tenure.
“We are indeed excited that the project execution started during your regime and it is now completed during your tenure,” the governor said.
He thanked Buhari for his commitment to the development of the country and appreciated all those who contributed immensely to bringing the project to reality.
Muhammed Bello-Koko, Managing Director of the Nigerian Ports Authority (NPA), in his welcome remarks, described the commissioning of the port as a dream come true.
Bello-Koko said the port, with a depth of 16.5 meters, would attract bigger vessels, create more employment and reduce the cost of doing business at the nation’s ports.
He said NPA would be responsible for regulating and providing marine services to the port,
The NPA boss added that the Authority had procured necessary equipment that would ensure the safe and secured berthing of vessels at the port.
The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Bashir Jamoh, said with the commissioning of the Lekki port, Nigeria had seen the emergence of one of the best ports in Africa.
He said the maritime industry is a key area to pursue in the quest to develop Nigeria’s economy.
In his remarks, Executive Secretary of the Nigerian Shippers Council (NSC), Emmanuel Jime said the Council would monitor the efficiency of the services that will be delivered at the port.
Meanwhile, the port is reputed as the most modern and deepest seaport in West Africa.
With the newszenith report.
Edited by Dada Ahmed.
