Nigeria Opens Billion-Dollar- Chinese-Built Deep-Sea Port in Lagos
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 PORT” is 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.
