Lagos Advances Phase 2 Expansion of Lekki Deep Sea Port

The Lekki Deep Sea Port in Lagos is progressing towards its Phase 2 expansion, as the first phase, valued at $1.1 billion, approaches full capacity. Governor Babajide Sanwo-Olu announced this development at the Invest Lagos Summit, emphasizing that the expansion, costing $240 million, aims to strengthen Lagos's position as West Africa's leading maritime logistics hub.

The port's operational performance has been strong, with increasing throughput necessitating additional capacity. This project aligns with opportunities created by the African Continental Free Trade Area (AfCFTA), which provides access to a market of 1.4 billion people with a combined GDP exceeding $3 trillion.

The expansion is expected to boost cargo handling capacity, improve trade efficiency, and enhance Lagos's role as a gateway for African and global commerce. Wang Qiang, Managing Director of Lekki Port, described the commencement of Phase 2 as a major milestone that will improve logistics efficiency along the Lekki corridor and attract further investments in the maritime logistics sector.