Nigeria Opens Billion-Dollar- Chinese-Built Deep-Sea Port in Lagos

2023-01-30 17:33:43 International Ports News

Nigeria opened up a new billion-dollar Chinese-built deep sea port in Lagos. This new port is expected to greatly reduce congestion in the country's ports and make Lagos a transshipment hub in Africa for handling cargoes headed to other destinations.

The new port named the LEKKI SEA PORTis 75% owned by China Harbor Engineering Company and the Tolaram Group. The remaining 25% is owned by the Lagos State government and the Nigerian Ports Authority.

The port is designed to handle 1.2 million containers annually. It is the largest seaport in Nigeria and one of the largest in all of West Africa. The construction of the port began in June 2020 and was initiated by the incumbent president of Nigeria, Muhammad Buhari. The LEKKI PORT is a great endorsement of China’s Belt and Road cooperation in Africa.

China has been one of the largest bilateral lenders to Nigeria and has funded many railroads and power stations. Cai Jianchun, the Chinese ambassador to Nigeria called the new port a game changer, and further added that the port would create around 200,000 new jobs.

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