Lekki Deep Sea Port
Buhari clears Lekki Deep Seaport for commercial operations
President Muhammadu Buhari has approved the designation of Lekki Deep Seaport as a Customs Port & Approved Wharf.
A statement confirming the development released by the Nigerian Ports authority (NPA), Friday, via its verified Twitter handle (@nigerianports) said the approval by the President Buhari was for the designation of the facility as a Customs Port & Approved Wharf.
According to the Managing Director of the NPA, Mohammed Bello-Koko, the port is now set for berthing of commercial vessels.
“In a letter through the Ministry of Transportation, the Managing Director, Mohammed Bello Koko, secured the approval for the port to be gazetted in line with extant laws.
“With this approval, the port is set for berthing of commercial vessels before year-end.”
With this approval and level of preparedness, the port is set for berthing commercial vessels before year-end.
It would be recalled that the NPA had awarded the Lekki Port LFTZ Enterprise Limited a Build, Own, Operate and Transfer (BOOT) contract to construct the facility in the 80s. Under this agreement, LPLEL is required to develop, finance, build, operate and, at the end of the concession term, transfer the port to NPA.
When fully competed, the Lekki Port will have a total of 3 container berths, 1 dry bulk berth and 3 liquid berths.
Built over 90 hectares of land in the heart of the Lagos Free Trade Zone, the Lekki Deep Seaport with almost 17-meter draught constructed by China Habour Engineering firm is a $2 billion investment in the Lagos Free Trade Zone initiated by the Tolaram Group lwhich controls a 22.5 per cent stake in the company.
While China Habour Engineering holds majority equity in the firm at 52.5 per cent, the Lagos State Government and the Federal Government, through the NPA control 20 per cent and 5 per cent, respectively.
