China Completes Construction of Lekki Deep Sea Port, Hands Over to Lagos Government
- A Chinese construction company, Habour Engineering, has completed the construction of the Leeki Deep Sea Port
- The company handed over the Port to the Lagos State government on Mondy, October 31, 2022
- According to reports, the Port is the deepest in West Africa and would employ about 200,000 people and generate $361 billion in revenue for Nigeria
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The China Habour Engineering LFTZ Enterprises has announced the completion of the Lekki Deep Sea Port construction.
The $1.5 billion Lekki Port is one of the deepest ports in West Africa and is expected to generate about $361 billion in revenue for the Nigerian government and also provide 200,000 jobs for the nation.
Source: Getty Images
Project to generate 20,000 jobs
The company's Vice President, Wu Di, who also acts as the Director of the Lekki port at the company, said at the handover ceremony that the construction of the Port officially began on June 15, 2020, and was completed on Monday, October 24, 2022.
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ThisDay reports that the Lagos State Governor, Babajide Sanwo-Olu, assured that the state government was working to provide enough ambience for transportation infrastructure in the State and that works are ongoing at the Ibeju-Lekki port area to avoid congestion.
Wu Di stated that the EPC's entire contract value for the project's first phase was $581 million.
Di revealed that the completion of the Port would make way for the container terminal operator, the Lekkin Free Port Terminal, to take over the Port for operations.
Lagos building massive transport infrastructure
Sanwo-Olu re-echoed that the Lagos State Government's commitment to the timely delivery of the road network around the Ibeju Lekki axis to ensure the evacuation of cargo from the Port.
He also called on local and foreign investors to invest in the State, adding that the zone was specifically designed to encourage investments in the State.
New Airport in Lekki and other large investments that could make Lagos West Africa's biggest economy
Legit.ng reported that Lagos State, Nigeria’s melting point, is said to be one of the largest economies in West Africa, almost twice the size of the economies of Togo, the Benin Republic and the Niger Republic.
It is the microcosm of Nigeria, has the biggest Gross Domestic Product (GPD) in the country with $91 billion, and earns far more than any other state from internally generated revenue (IGR).
Lagos also leads other states as the highest indebted in the country. Data from the Debt Management Office (DMO) states that the external debt of Lagos is over $1 billion.
Source: Legit.ng
