Nigeria opens ‘game changer’ billion-dollar deep seaport in Lagos

President of Nigeria Muhammadu Buhari.

Olukayode Jayiyeola/NurPhoto by way of Getty Photos

Nigeria has opened a billion-dollar, Chinese language-built deep seaport in Lagos, which is anticipated to ease congestion on the nation’s ports and assist it turn into an African hub for transhipment, dealing with cargoes in transit for different locations.President Muhammadu Buhari, who commissioned the port on Monday, has made constructing infrastructure a key pillar of his authorities’s financial coverage and hopes it will assist his ruling celebration win votes throughout subsequent month’s presidential election.A lot of Nigeria’s seaports, inherited from the British colonial administration, are now not useful or function beneath capability. At the moment, most business exercise goes via the 2 in Lagos and two others in and round Port Harcourt, the nation’s oil capital, leading to regular gridlock and logistics points for imports and exports.Native newspaper Punch reported Lagos Governor Babajide Sanwo-Olu as saying that “the scale of vessels that might be coming right here might be as much as 4 instances the scale of vessels that at present berth at Tin Can and Apapa Ports [Lagos’s existing ports].”The brand new Lekki Deep Sea Port is 75 p.c owned by the China Harbour Engineering Firm and Singapore’s Tolaram Group, with the steadiness shared between the Lagos state authorities and the Nigerian Ports Authority.Authorities have stated the brand new port, constructed at a reported $1.5bn, is among the largest in West Africa.“This can be a transformative mission, recreation changer mission. This mission may create at the very least 200,000 jobs,” Chinese language Ambassador to Nigeria Cui Jianchun advised Reuters after the port was commissioned by Buhari.China is among the many largest bilateral lenders to Nigeria and has funded rail, roads and energy stations.