- ‘It will maximise Nigeria’s opportunities in AfCFTA’
By Anthony Nwachukwu
Completed and commissioned within 45 months of the signing of the Letter of Intent by partners, the wide-impact Lekki Deep Seaport stands out as one of the major legacies of the President Muhammadu Buhari administration, the Minister of Transportation, Mu’azu Sambo, has said.
Speaking at the Lagos State banquet for Buhari after the commissioning of the port, Sambo said the commissioning was made possible by the president’s expeditious handling of all requests from the Federal Ministry of Transportation concerning the port project.
“This project will go down as one of the major legacies of this administration,” Sambo said. “In addition, this project will make an immense impact on the nation’s economy, generating about $350 billion in revenue.
“I, therefore, say big congratulations to Mr. President, the Federal Ministry of Transportation, the Nigerian Ports Authority, the investors and all stakeholders on the accomplishment of this milestone.”
According to him, the fact that the letter of intent between the proponents of the port and the financial partners was signed just in April 2019 and by January 2023 the wide-impact project was already being commissioned, is testament to the ministry’s tenacity of the purpose through the NPA.
“Added to these was the unprecedented promptness with which the President approved the ministry’s extraordinary request to designate Lekki Deep Seaport as Customs Port and approved wharf and its publication in the Federal Government Official Gazette in record time,” he added.
“With seaports being under the exclusive legislative list, the NPA’s provision of a sinking fund for Lekki Deep Seaport Federal Government’s equity contribution gave this project the necessary statutory cover and financial guarantee, in line with the law.
“Completing a project of the magnitude and impact of a deep seaport in a record 45 months shows the effectiveness of tenacious ministerial supervision, strict regulatory oversight and strong presidential backing.”
Sambo further stated that the port would be generating 170,000 jobs, going by the number of direct and indirect labour employed since the project commenced.
Sambo noted that one of the features of the facility is full automation, which would enhance the competitiveness of Nigeria’s exports in the international marketplace.
According to him, the port’s “distinctive features, such as full automation, which positions it for quick cargo and vessel turnaround, will greatly enhance the competitiveness of Nigeria’s exports, especially agro-allied products, in the international marketplace.
It will also “position Nigeria to maximise the opportunities inherent in the African Continental Free Trade Area (AfCFTA) Agreement.”
