By Oluwaseun Sonde
Nigerian Minister of Information and Culture, Alhaji Lai Mohammed has said that the impact of Lekki Deep Sea Port is put at 361 billion dollars in 45 years, to cover 200 times cost of building it, also to create 169,972 jobs and bring revenues totalling 201 billion dollars to state and federal govts via taxes, royalties and duties.
The Minister made this known while on a tour of the Lekki Deep Sea Port at the Lagos Free Zone, located some 65 kilometres east of Lagos on Tuesday, Lai Mohammed said the Port, a Build, Own, Operate and Transfer concern, is a massive project, a game changer and a pace setter.
According to him "I called the Port a game changer because of the impact it will have on the nation's economy and the jobs it will create, among others. The investment is huge: 1.53 billion dollars on fixed assets and 800 million dollars on construction.
"The direct and induced business revenue impact is estimated at 158 billion dollars, in addition to a qualitative impact on manufacturing, trade and commercial services sector", Lai Mohammed added.
The Minister stated that when the Port begins operation in the last quarter of this year, it will make it possible for Nigeria to regain the maritime business that was lost to ports in Togo, Cote d'Ivoire and Ghana. "It is also a big boost to Nigeria in its quest to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA).
"A major advantage we have to leverage is transshipment. With this port, Nigeria will become a transshipment hub and the revenue we are currently losing to our neighboring countries will come back. As you know, this project is being done in phases. Phase 1 has reached 89 percent and will be completed in Sept this year".
He noted that the facilities at Lekki Deep Sea Port are first class. "We have 7 ship to shore cranes and 21 RTG cranes. No port in Nigeria currency has this. The excellent equipment is why this port can do 18,000 teu, which is more than four times the number that can currently be handled by our other ports.
"Also, the project is self sufficient in required electricity. It is now read to generate up to 10 Mega Watts and tie total capacity is 16 mega watts. Overall, this is another example of the first class infrastructure being developed across the country by this administration. Whether it is roads, rail, airport terminals, gas pipelines, housing, ports, just name it".
Lai Mohammed appealed to the media to play up the developmental efforts instead of concentrating energy on negativity. "That’s why we embark on these tours with a large retinue of journalists. Let the world know that Nigeria is not all about kidnapping, terrorism and banditry. It is also about massive developments that are unprecedented".
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