The Lekki Deep Seaport is the largest seaport in Nigeria and one of the biggest in West Africa. The seaport, which started developing in 2018, is an economic investment that is predicted to impact the Nigerian economy positively. During the inauguration of the seaport, Mohammad Bello-Koko, the Managing Director of the Nigerian Ports Authority, explained that the development would lead to economies of scale which would eventually reflect on the cost of doing business in the country. In addition to state-of-the-art infrastructure, Lekki port is expected to become a new-generation container terminal and a game-changing infrastructure in Nigeria and also in West Africa. Aside from the obvious facts associated with the Lekki deep seaport, here are a few facts to know about the industrious establishment: 

1. The Size

The Lekki deep seaport is one of the best ports in West Africa. The Lagos state governor at the commissioning said the vessels that will be coming in will be four times bigger than the size of the vessels that have been coming in at TinCan and Apapa ports.

2. Investors

The $1.5 billion project is a joint venture between the federal government, through the Nigerian Ports Authority, the Lagos State Government, Tolarams Group (owners of the Lagos Free Zone), and China Harbour Engineering Company. The port is being developed as a public-private partnership (PPP) project by the Lekki Port LFTZ Enterprise (LPLE). 

3. Economic Impact

The economic impact of the project would translate to revenue from duties, royalties, and taxes worth $201 billion and also a direct/indirect business impact of $158 billion, according to ICRC. The seaport is expected to enhance the country’s maritime infrastructure, boost trade volumes, create employment opportunities, and attract foreign investment to the region.

4. Infrastructure Development

In addition to the port itself, significant infrastructure development is also underway in the surrounding area. This includes road networks, rail connections, and other supporting infrastructure to ensure efficient movement of goods from the port to other parts of Nigeria. 

5. Capacity and Facilities

The Facilities is a multi-purpose port that includes well-designed marine infrastructure, such as container (phase one), dry bulk, and liquid terminals (phase two). It has 3 Container berths, 3 Liquid and 1 Dry Bulk Berth. Once completed, the Lekki Deep Sea Port is expected to have significant capacity, with berths capable of handling large container vessels and other types of cargo ships. It will feature modern facilities and equipment to facilitate efficient cargo handling operations. With the annual throughput of the port at 1.2 million TEU, the terminal can accommodate 18,000TEU container vessels.

6. Shareholding

The Nigerian Government owns 5% while the Lagos Government at 20% and the Lekki Port Investment Holding Inc owns 75% through the Special Purpose Vehicle (SPV- Lekki Port LFTZ Enterprise Limited).

7. Strategic Importance

The port is strategically important not only for Nigeria but also for the broader West African region. It aims to serve as a major transshipment hub, facilitating trade not only for Nigeria but also for neighbouring countries in the region.

Environmental Considerations

Environmental impact assessments and mitigation measures are integral parts of the project’s development. Efforts are made to minimise environmental disruption and ensure sustainable operations.

9. Competition and Collaboration

The Lekki Deep Sea Port will face competition from other ports in the region, such as the Apapa and Tin Can Island Ports in Lagos. However, collaboration and partnerships with existing ports and stakeholders will maximise the port’s potential and addressing logistical challenges.

10. Location

The project is built in a strategic location in Lekki, Lagos. Its flexible and optimised layout and modern facilities give Lekki Port a competitive edge over any other port facility in the West African region. The Lekki Deep Sea Port is situated in the Lekki Free Trade Zone (LFTZ) in the eastern part of Lagos State, Nigeria. It is strategically positioned along the coastline of the Lagos Lagoon, near the Atlantic Ocean.

11. Area

The Land Area consists of 90 Hectares, Concession Term- is 45 years, making it the First Deep Sea Port in Nigeria and the deepest port in West Africa.