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Lekki Port to generate $200bn, 163,000 jobs

By on April 9, 2013

The managing director of Lekki Port LFTZ Enterprise, Mr. Haresh Aswani has projected that the state-of-t he-art Lekki Port project, scheduled to be operational by third quarter of 2016 will generate $200bn revenue and create 163,000 new jobs.

Located in the Lagos Free Trade Zone at the Lekki suburb, Aswani explained that the Lekki Port, conceptualized as a multi-product industrial and logistics hub would spread across 90Ha of land and shall be built at an estimated cost of $1.55 billion. He further said the deep-sea port which will be located 65 km east of Lagos Mainland shall become the gateway to West African region and would be one of the most efficient and modern maritime facilities that will cater to containerized, liquid and dry bulk cargo par international standards.

“In addition to bridging the capacity deficit, Lekki Port will have significant positive macroeconomic impact estimated at $361 billion over the entire concession period. It is expected to contribute more than USD 200 billion to the government exchequer while also creating close to 163,000 new jobs in the economy. Furthermore, Lekki Port will spur the economic development around the Lekki sub-region and on a wider perspective, the whole of Lagos State through rapid industrialization”, headded.

In a bid to ensure smooth and efficient operations, Lekki Port has engaged the services of leading global consultants in the mould of The Louis Berger Group Inc., Delta Marine Consultants, Berger ABAM and TBA Netherlands and the container terminal has been sub-concessioned to International Container Terminal Services, Inc, Philippines, a leader in the container terminal operations with a footprint across the globe.

The strategic location, optimal layout and modern facilities is expected to provide Lekki Port a distinct competitive edge over any other port facility in the West African region.

The Lagos State Government’s and Nigerian Ports Authority’s (NPA) involvement as shareholders in this project demonstrate both, their interest in the success of Lekki Port and their confidence in the Public-Private Partnership model to bridge the gaps in the infrastructure domain which is pivotal to overall growth of Nigerian economy.

( National Mirror )