Lagos, Nigeria, Monday, January 23, 2023.
The Managing Director of Lekki Port LFTZ Enterprise Limited (LPLEL), promoter of the Lekki Deep Sea Port, Mr Du Ruogang, has disclosed that Lekki Port will facilitate trade volume growth for Nigeria and increase the Gross Domestic Product (GDP) as part of the macro-economic benefits of the Port to the economy.
Ruogang stated this while addressing the media during the official commissioning of Lekki Port by President Muhammadu Buhari on Monday, January 23, 2023, at the Lagos Free Zone, Ibeju Lekki, Lagos. He noted that Lekki Port remains a game-changer that would redefine maritime activities in Nigeria and the entire West African sub-region. It is scheduled to commence operations by the end of Q1 2023.
He highlighted other benefits, including; improvement of external trade competitiveness through improved port efficiency, cost-effective port operations & services, and improved turnaround time for cargo handling and clearance, a reduction in delays in the supply of raw materials and equipment, as well as reduced costs of importations and charges such as demurrage, among others. “With Lekki Port, Nigeria will witness a growth in maritime traffic and global trade and strengthen connectivity and capability to provide efficient and reliable services. Lekki Port will be a critical engine that will drive the Nigerian economy upon the commencement of operations. I am equally confident that it would help to reinforce Nigeria’s status as a regional maritime hub and enable many related industries to flourish”, he said.
Through the new container terminal at Lekki Port, the CMA CGM Group will further develop its presence in Nigeria, the continent’s largest economy and population and the most critical consumer market in West Africa. It will consolidate its global African shipping and logistics network.
Committed to supporting its customers’ supply chains in Nigeria and West Africa with a comprehensive range of shipping and logistics solutions, the CMA CGM Group also strengthens the region’s logistics and port infrastructures through significant investments as a global port operator with its subsidiary CMA Terminals.
Speaking at the event, the Executive Governor of Lagos State, Mr Babajide Sanwo-Olu, noted that the project is a big testament to the commitment of the Lagos State Government to support the provision of necessary infrastructure that would improve the economic fortunes of Lagosians by providing thousands of jobs for the people and impacting their lives positively.
On his part, the Chairman of Lekki Port, Mr Biodun Dabiri, expressed profound gratitude to the President and his team for giving all the necessary backing that ensured the project came to fruition. He stressed that the Management of the Port is working round-the-clock to get the port operational soon.
“We owe a great deal of this success to the visionary leadership of President Buhari, who provided the much-needed support to make the project a reality. We are immensely grateful to President Buhari, Governor Sanwo-Olu, and all other stakeholders for their role in the actualization of the Port. For us, we would continue to be a willing partner in the quest to achieve significant economic growth by investing in Nigeria,” Dabiri said.
About Lekki Port LFTZ Enterprise Limited
Lekki Port LFTZ Enterprise Limited (LPLEL) is the Special Purpose Vehicle (SPV) that was awarded the Concession Agreement for the development and operations of the Lekki Deep Sea Port by the Nigerian Ports Authority. LPLEL is required to develop, build and operate a common user multipurpose port. LPLEL sub-concessioned the container terminal operations to Lekki Freeport Terminal (LFT), operated by CMA Terminals and a subsidiary of the CMA CGM Group, the world’s third-largest container shipping company.
LPLEL is a joint venture enterprise owned by foreign promoters, Lekki Port Investment Holdings Inc (comprising China Harbour Engineering Company Ltd. and Tolaram), the Lagos State Government, and the Federal Government of Nigeria through the Nigerian Ports Authority (NPA). LPLEL is incorporated under the Companies & Allied Matters Act and licensed by the Nigerian Export Processing Zones Authority to operate within the Lagos Free Zone. This opens a host of benefits for Lekki Port regarding taxes, duties, and other incentives.
About Lekki Port
Lekki Port is a multipurpose deep-sea port at the heart of the Lagos Free Zone. Lekki Port is poised to be the most modern and deepest seaport in West Africa, offering critical support to burgeoning commercial operations in Lagos State, across Nigeria, and the entire West African region. The Port will operate in line with global standards and world-class facilities.
Phase 1 of the multipurpose Port covers an area of 50 hectares, with two container berths and a total capacity of 1.2 million TEUs annually. Upon completion of the final phase, the Port will have three container berths, one dry bulk berth, and three liquid berths. The approach channel is about 11km long and 16.5m deep. The main breakwater is 1.9km long and will accommodate a corridor for liquid transport to and from the liquid berths. The three liquid berths will service ships up to 160,000 DWT. The turning circle, which will have a diameter of approximately 600m, will be sufficient to handle 18,000 TEU vessels. Tug boats will assist in the moving of the various vessels. The Port is equipped with the latest super-post Panamax, ship-to-shore cranes, and RTG cranes; the layout will ensure that the Port will be a modern, efficient facility. Lekki Port is ideally positioned to service the gateway for Nigeria and the surrounding West African region.
About CMA CGM
Led by Rodolphe Saadé, the CMA CGM Group, a global player in sea, land, air and logistics solutions, serves more than 420 ports worldwide across five continents, with a fleet of 584 vessels. The Group transported 22 million TEU containers in 2021. With its subsidiary, CEVA Logistics, a global logistics player which transported 474,000 tons of air cargo and more than 21 million tons of inland freight, and its air cargo division CMA CGM Air Cargo, the CMA CGM Group is constantly innovating to provide customers with a comprehensive and increasingly efficient offering, thanks to new shipping, inland, air freight and logistics solutions. Firmly committed to the energy transition in shipping and a pioneer in its use of alternative fuels, the CMA CGM Group has set a Net Zero-Carbon target for 2050.
Each year, via the CMA CGM Foundation, the Group supports thousands of children to promote education for all and equal opportunities. The CMA CGM Foundation also intervenes in humanitarian crises requiring an emergency response by calling on the Group’s shipping and logistics expertise to deliver humanitarian supplies worldwide. Present in 160 countries through its network of more than 400 offices and 750 warehouses, the Group employs 150,000 people worldwide, including around 4,000 in Marseille, where its head office is located. A wholly owned subsidiary of the CMA CGM Group, CMA TERMINALS is a port operator in charge of the development, conception, construction, acquisition, and operation of terminals and handled over 12 million TEUs in 2022.
CMA TERMINALS owns 29 terminals worldwide strategically placed in areas that complement those covered by TERMINAL LINK. As well as its strong global presence, CMA TERMINALS has made bold investments in niche markets, including Marseille (France), Long Beach (USA), the French West Indies, Vietnam, India, and Beirut. CMA TERMINALS is developing multiple new projects in UAE, Colombia, Brazil, Egypt and India and is keen to look at any investment project that may align with the CMA CGM Group’s ambition.