Federal Government Projects $200bn Revenue from Lekki Port in 45 years

The Federal Government anticipates a revenue of $200 billion from the Lekki Port over a 45-year concession period. Minister of Blue Economy, Adegboyega Oyetola, highlighted the port's role in easing congestion in Lagos ports and boosting Nigeria's competitiveness as a logistic hub.

The government is working on critical access road infrastructure to support the port. Lekki Port's Managing Director, Wang Qiang, emphasized the project's modern infrastructure and advanced technology, including Post Panamax Cranes and automated gate systems.

The port is expected to have a significant economic impact, generating revenue of $201 billion and creating millions of jobs. The Lekki Deep Sea Port aims to transform trade and shipping in Nigeria, with plans to commence transshipment operations in 2023.

Stakeholders see the port as a key player in advancing the country's blue economy agenda and regional trade.