Nigeria’s first deep seaport to draw $201 billion in revenues, says minister

Lekki Port Nigeria

The Lekki Deep Sea Port in Nigeria is expected to attract total revenues of $201 billion to the state and federal government through taxes, royalties and duties.

The statement has been made by Lai Mohammed, Minister of Information and Culture, during the second federal government’s monthly visit on 4 May.

© Lekki Deep Sea Port via Twitter

Mohammed told reporters that the port currently under construction in Lagos will prove vital to the development of Nigeria’s economy and create up to 170,000 jobs.

The Lekki Deep Sea Port is being constructed by China Harbour Engineering Company Ltd. (CHEC) and it will become the first of its kind in Nigeria upon completion.

“It is the deepest seaport in Nigeria and West Africa, and that is a unique advantage,” Mohammed said.

“It is also a big boost to Nigeria in its quest to take advantage of implementing the African Continental Free Trade Area Agreement (AfCFTA).”

The port project comprises several phases – Phase 1 has now reached 89 per cent and will be completed in September 2022, according to the Minister.

The Nigerian Ports Authority (NPA) revealed that measures and investments are being undertaken to create a fully digital ecosystem in port locations across Nigeria by 2025.

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