Nigeria’s Federal and Lagos State Governments have signed a Memorandum Of Understanding (MOU) for the construction of a deep sea port in the Lekki area of Lagos, in Western Nigeria.

Lagos State Commissioner for Commerce and Industry, Shola Oworu, while signing the agreement at the State House, Ikeja on Monday said the project was conceived out of the need to have a modern deep sea port that could take large vessels in the country.

She stated that facilities in the existing ports in the country were over stretched, as they no longer have the capacity to handle the traffic accompanying the expansion of the nation`s economy.

“The first phase is what we are commencing now and God willing, in the next three years, the first phase would be completed,” she said.

Managing Director, Nigeria Ports Authority, NPA, Habib Abdullahi, who signed the agreement on behalf of the federal government said the project was meant to complement the Tin Can and Apapa Ports in order to boost the nation’s economy.

He argued that the two existing ports have already been overstretched, stressing that the project would help tackle the problem of ports congestion when completed.

“The partnership is such that, there is one foreign investor, ‘Ports at Lekki` in the deal on 60-20-20 sorts of, 60 percent for the foreign investors, 20 for the Federal Government through the NPA and 20 percent 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,’ he explained.

a futuristic view of the Lekki Port
Abdullahi added that the NPA would provide technical support for the project to ensure it complied with the required standards, saying that the authority planned the construction of more ports for the state as well as other parts of the country.

Interesting news...

Is there concession on how long the "foreign investors" are going to manage the seaport for? - 20 years? 50 years? 100 years??

good for lagos state, it really baffles me why other litorial states wouldn't think of a seaport.

why is river state building a stupid tram system that will cost so so much to maintain , when the state could have rather invested in a deep seaport project at about same money.

even the big importer in aba and onitsha could pull resources and partner with a one of these states to build one.
Akwaibom has a natural deep water coastal profile.
there is cross river, even delta.

Good innovation!

.

Good for Lagos.

Meanwhile, I thought Akpabio of Akwa Ibom is building a deep seaport in the state?

@Topic,

Anything that support development is welcomed. However, I thought Lagos has three ports already?

This is type of news I like reading.

@macjive01

A deep seaport is under construction in Ibaka, Akwa Ibom. The 1st phase of d project is expected to be competed by 2015.
Its expected to serve some parts of the South-south and the entire South-east.

macjive01: good for lagos state, it really baffles me why other litorial states wouldn't think of a seaport.

why is river state building a stupid tram system that will cost so so much to maintain , when the state could have rather invested in a deep seaport project at about same money.

even the big importer in aba and onitsha could pull resources and partner with a one of these states to build one.
Akwaibom has a natural deep water coastal profile.
there is cross river, even delta.

mac,

there are two ports in Lagos already.....Apapa and Tin Can Island, this will give a thrid access for every Nigerian to use. Why are you advocating wastage, what do you need duplicate ports in Onitsha or Aba for?

Good news,other state shoul also be thinki of other ways of attracting foreign investors and creating the enabling environment.

couuntries Like Ghana,Togo and Benin have excellentt coastlines for large vessels in contrast to Nigeria which is mostly swamp, or peninsula except for Lagos. Ogun.Ondo, Bayelsa etc will cost 10 times as much or in the few exceptions very short quaysides eg Onne or there is very poor road access or terrain after the coast and so distribution of imported goods will always be a challenge. In short the nation is addicted to Lagos's coastline .

i guess that ends all debate...

These are the same set of people defeaning us with cries of marginalization.

What's the federal government's stake in this? I thought the Lagos state government owned the initiative.

GREAT!!

There's no good reason Cross River and Rivers state shouldn't have a sea port if Lagos can have one. All these states share the same Atlantic ocean.

Good to hear something refreshing again about Lagos&by extension Fashola
Hope it can promote healthy rivalry&not tribal jealousy nor petty politics which the FG has been playing with Lagos for sometime now
Yet hope Lagos has projects in the pipeline for the low class end of society too&not just the elite/business class