Lekki Port Phase 2 Development to Start Soon in Lagos
Lagos State Governor Babajide Sanwo-Olu announced that the development work for Phase 2 of the Lekki Deep Sea Port will commence soon. This initiative aims to enhance Lagos's status as West Africa's leading maritime logistics hub.
The announcement was made during the Invest Lagos Summit 3.0 held on Tuesday. Sanwo-Olu emphasized that the rapid growth of the Lekki Deep Sea Port is crucial for the expansion of its capacity, which is nearing its limit.
The African Continental Free Trade Area (AfCFTA) is expected to create a market of 1.4 billion people with a combined GDP exceeding $3 trillion. The second phase of the project is anticipated to significantly boost cargo handling capacity and enhance maritime trade, reinforcing Lagos's role as a gateway to the African market under the AfCFTA framework.
Wang Qiang, the Managing Director of Lekki Port, commended the Lagos State Government for maintaining a stable investment-friendly environment that attracts long-term private sector investment.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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