The Managing Director of Lekki Port LFTZ Enterprise Limited, Mr Wang Qiang, has urged policymakers and stakeholders to replicate the deep seaport’s model nationwide and not be seen as a singular achievement but as a national blueprint for leveraging the blue economy to create jobs, attract investment, and build a more sustainable future for Nigeria.
He said the port is estimated to impact the economy with $361 billion within its 45-year concession period, which is a multiplier effect of about 230 times the cost of construction.
Speaking on the theme: “Unlocking opportunities: The Lekki Deep Sea Port Playbook for Transforming Trade and Shipping in Nigeria,” at a recent event held in Lagos, Qiang said the port is also expected to generate up to $201 billion in state and federal taxes, royalties and duties as well as create 170,000 direct and indirect jobs.
Qiang described the port as a “playbook” for how Nigeria can translate bold policies into transformative projects that drive trade, industry, and advance the blue economy’s sustainable growth.
He emphasised that the port’s project delivery under a public-private partnership (PPP) model showcased the power of mobilising private capital, expertise and innovation to complement government policy.
According to him, PPPs reduce pressure on public funds, transfer performance risk to competent private partners and accelerate efficiency and innovation in service delivery.
Qiang listed key factors that underpinned the port’s success, including a bankable structure with clear concession terms, enforceable performance standards, measurable local content commitments, community engagement, and environmental safeguards.
He said the Lekki Port, with a current draft of 16.5 metres, is capable of receiving some of the world’s largest container vessels and is equipped with super post-Panamax cranes, drive-through cargo scanners, and automated gate systems to cut vessel waiting times, lower logistics costs, and boost trade efficiency.
Qiang said that since commencing transshipment operations in 2023, Lekki Port has begun positioning Nigeria as a regional trade hub under the African Continental Free Trade Agreement (AfCFTA), reclaiming maritime business previously lost to neighbouring West African countries and supporting landlocked nations in the region.
