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Federal Government and Lagos State Government agree on Lekki Seaport

The Federal and the Lagos State governments have signed a Memorandum Of Understanding for the construction of a deep sea port in Lekki area of the state.

At a ceremony to mark the signing of the agreement, the Managing Director of Nigerian Ports Authority, Mr. Habib Abdullahi, who signed the agreement on behalf of the Federal Government, said the proposed Lekki Port would complement the Tin Can and Apapa ports while also boosting the nation’s economy.

He explained that the two existing ports in Lagos had been overstretched, saying the project would help tackle the problem of ports congestion.

He said, “The partnership is such there are foreign investors in the the Lekki Port project with a 60-20-20 formula. That is 60 per cent for the foreign investors, 20 per cent for the Federal Government through the NPA, and 20 per cent equity for the state government.

“That is how it is going to work. The driving force will be the foreign partners, who have already started work there. They have already invested some amount and we are expected also to put in our equities.”

Abdullahi said the NPA would provide technical support for the project and also ensure that it complied with the required standards.

He added that the NPA would encourage the construction of more ports for other states in the country.

The Commissioner for Commerce and Industry Mrs. Shola Oworu, who signed for the Lagos State Government, said the project was a response to the need for a modern and a truly deep seaport that could take large vessels in the country.

Oworu said the facilities in the existing ports in the country no longer had the capacity to handle the traffic accompanying the expansion of the economy.

She said, “We have just signed the agreement for the first phase of the project. We expected that it would be completed in the next three years.”

A former Governor of the Central Bank of Nigeria, Mr. Joseph Sanusi, said the project would not only impact positively on the state’s economy, but also the ecomonic status of the nation.


Culled from Punch Newspaper (Nigeria)