The Federal Government has announced that commercial operations will begin at the Lekki Deep Seaport in September 2022.
This was disclosed by the Minister of Transportation, Rt. Hon Rotimi. Chibuike Amaechi, after inspection of the project at Lekki Free Trade Zone (LFTZ), Ibeju Lekii area of Lagos State.
The Minister stated that the project would contribute approximately $360 billion to the nation’s Gross Domestic Product (GDP) on an annual basis, emphasizing that Nigeria requires more money from the Port, which he described as the country’s first Sea Port, as Tin Can and Apapa were only River Ports.
According to the Minister, Lekki Port, which is expected to be the deepest port in Sub-Saharan Africa, is a privately funded project sponsored by Lekki Port LFTZ Enterprise Limited, with the federal government acting as landlord.
“By September 3022 that we agreed they should commence commercial activities.
“We are talking with Lagos State government let us see how to relocate them because the need for extension will be understated if we ignore it. Now that are 5000 persons, we need to have a discussion with the community, with the Lagos State government and make provision for their relocation.
“This is a privately funded project. But, over time they will collect their revenue from commercial activities before they hand over to the federal government through the Nigerian Ports Authority NPA. But obviously, taxes will be collected here.
“I am not sure there is any tax exemption. And we must say too that the confidence in giving them the project is because of the taxes that we will collect here that will help in the construction of other projects.
“I imagine quite a lot of things and I wish I could implement them. I imagine that the Lagos – Calabar rail should start from here. That is my imagination. But Lagos – Calabar rail project is $11.1 billion and we don’t know where that money going to come from, so as Minister of Transport, I will start from Benin to Port Harcourt, then to Calabar. It is only when we finish that we are going to think about how to come from Benin to Lagos because there is already a rail from Lagos to Kano. So for me, what makes economic sense is that there is another sea Port Warri, Calabar, and Port Harcourt that need to be faired with the train too, just like we faired Tin Can and Apapa. Another piece of advice I could give is that if they want to invest, they could invest in rail. And then, the government should either do tax deductions or something to help pay them back. But for now, the government does not have money” he stated.
Amaechi explained that the federal government plays the landlord role by providing the land for the project.
