The promoters of the Lekki deep seaport, the Lekki Port LFTZ Enterprise Limited on Thursday disclosed that the project is now almost 80 percent completed.
Disclosing this in a chart uploaded on its website, the firm stated that total works on Nigeria’s first deep seaport is now 79.68 percent completed.
According to the firm, “Dredging and reclamation works is now 89.93 percent completed.
“Quay wall is now 85.65 percent completed. The Breakwater is now 79.66 percent completed.
“For landside infrastructure, works done is now 67.82 percent completed, bringing total works carried out on the project as at Thursday, 6th of January 2022 to 79.68 percent completion stage.”
Spread over 90 hectares of land in the heart of the Lagos Free Zone, Lekki Port is situated just 65 km east of Lagos city.
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 Lekki Deep Sea Port was conceptualized on the basis of a significant gap in projected demand and capacity.
The strategic location, flexible and optimized layout and modern facilities provide Lekki Port a distinct competitive edge over any other port facility in the West African region.
In addition to bridging the capacity deficit, Lekki Deep Sea Port is expected to have a significant positive impact estimated at USD361 billion over the term of the concession. It is expected to contribute more than USD200billion to the government exchequer and create close to 170,000 new jobs.
Furthermore, Lekki Port is expected to spur the economic development around the Lekki sub-region and the wider Lagos State through rapid industrialization.
The Project enjoys a development structure that is the first of its kind in Nigeria. This 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.
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