By Austin Maho
Lekki Port, Nigeria’s inaugural deep-sea port, was developed by CHEC (China Harbour Engineering Company) using the BOOT (Build, Own, Operate, and Transfer) model and successfully completed construction in October 2022.
The concession period spans 45 years, which includes three years for construction. The port’s ownership is shared among several stakeholders, including CHEC, Tolaram, the Lagos Government, and the Nigerian Ports Authority. Managing the container operations at Lekki Port is the Lekki Freeport Terminal, a joint venture between CHEC and CMA-CGM.
The first phase of the multipurpose port, with a total investment of 1.044 billion US dollars, boasts two container berths, a 680-meter-long quay, and a deep channel of 16.5 meters. It is equipped with 7 ship-to-shore cranes and 21 RTG (Rubber-Tyred Gantry) cranes. The port yard spans 20 hectares and can accommodate up to 55,000 TEUs (Twenty-Foot Equivalent Units). Lekki Port is well-prepared to handle vessels with a capacity of 18,000 TEUs and has an annual throughput capacity of 1.2 million TEUs. The commercial operations of Lekki Port commenced in April 2023.
For an extended period, ports in Lagos grappled with issues such as traffic congestion, shallow draught levels, limited cargo distribution capabilities, and an underdeveloped road network. These challenges significantly hindered Nigeria’s foreign trade and led to the loss of its status as a transshipment hub to other West African countries in past decades. Lekki Port is set to be a game-changer in this regard.
Strategically located within the Lagos Free Zone, Lekki Port serves as a pivotal gateway not only for Nigeria but also for the wider West African region. It is equipped with state-of-the-art machinery, making it Nigeria’s first automated port. This automation promises swift customs clearance and a considerable reduction in cargo handling times. Lekki Port is expected to propel Nigeria’s economic growth, foster prosperity in foreign trade, boost various associated industries, and create a substantial number of jobs. Projections indicate that the overall economic benefits over the next 45 years will amount to an impressive $361 billion, with the creation of 170,000 direct and indirect employment opportunities.
