Construction of Nigeria’s $1.5 billion Lekki Deep Sea Port completed



CNN

Lagos, Nigeria’s commercial hub, has a storage problem. At West African trade hub shipping terminals, forecast demand for container space far exceeds capacity. To bridge the gap, the state has embarked on one of the most ambitious infrastructure projects in the region, the Lekki Deep Sea Port.

Construction of the $1.5 billion port, located east of the city of Lagos, was recently completed and is designed to handle the equivalent of 2.7 million units of 20-foot-long containers in year.

With a 1.2 kilometer wharf, the 90-hectare site becomes Nigeria’s largest port, significantly expanding the country’s capacity to process imports and exports.

Lekki Deep Sea Port under construction in November 2021.

The port comes at an important time for Nigeria’s economic outlook. According to the African Development Bank Group, the country’s economy is expected to grow at a decelerating pace of 3.2% in 2022-2024, while the oil sector has contracted amid low output and inflation close to 17%.

According to its developers, the Port of Lekki is expected to create close to 170,000 jobs and generate $360 billion over the next 45 years, according to the Ministry of Transport.

It is close to the Dangote Oil Refinery, which is currently under construction and when completed will be capable of processing 650,000 barrels of oil per day. Both the port and the refinery are located within the Lekki Free Trade Zone, a 16,500-hectare free trade zone whose master plan also contains a proposed airport, a start-up community, and commercial and residential zones.

The port, refinery and commercial zone are among the largest infrastructure projects on the continent. Look at through the gallery above to see more of Africa’s most ambitious infrastructure projects.

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