The multimillion dollar Lekki deep sea port project in Lagos, is about 80 per cent completed, it was learnt.
This was discussed yesterday, by its promoters, the Lekki Port LFTZ Enterprise Limited.
In a chart uploaded on its website, the promoters of the enviable and world standard class project disclosed that the total work done on the premier deep seaport in the country, has gotten to 79.68 per cent
Findings revealed that the breakwater, which is one of the most expensive parts of the project, is now 79.66 per cent completed.
The port is expected to have a significant positive impact estimated at $361 billion over the term of the concession. It is expected to contribute more than $200billion to the government exchequer and create close to 170,000 new jobs.
Moreover, the port is also expected to spur the economic development around the Lekki sub-region and the wider Lagos State through rapid industrialisation.
The Project, findings revealed, enjoys a development structure that is the first of its kind in the country. It is the single largest private investment in infrastructure in Nigeria being developed on a non-recourse project finance basis with the majority of financing being raised internationally
The company said: “dredging and reclamation works is now 89.93 per cent completed. Quay wall is now 85.65 per cent completed. The breakwater is now 79.66 per cent completed.
“For landside infrastructure, works done is now 67.82 per cent completed, bringing total works carried out on the project as at Thursday, 6th of January 2022 to 79.68 per cent completion stage.”
Spread over 90 hectares of land in the heart of the Lagos Free Trade Zone, Lekki Port is situated just 65 km east of the commercial city of Lagos.
The western boundary of the site lies east of Magbon Segun Village while the eastern margin lies west of Itoke Village. The Atlantic Ocean forms the southern boundary of the site and is bounded on the North by the Old Ibeju-Lekki Road between Eleko and Akodo.
The major roads and highways around the Port include: Old Ibeju-Lekki Road, Lekki-Epe Expressway, Ikorodu Road, Ikorodu-Itoikin-Ijebu-Ode Road, Itoikin-Epe Road, Lagos-Ibadan Expressway and Sagamu-Benin Expressway.
In addition to this existing network, a number of new key road and bridge projects and expansion of existing highways are under development, connecting Lekki port further into the hinterlands.
The development of the port was conceptualised on the basis of a significant gap in projected demand and capacity.
The strategic location, flexible and optimised layout and modern facilities, it was gathered, give the port a distinct competitive edge over any other port facility in the West African region.
