Lekki Port LFTZ Enterprise was awarded the concession for 45 years by Nigerian Ports Authority on a Build, Own, Operate and Transfer (BOOT) basis. Under this agreement, LPLE is required to develop, finance, build, operate and, at the end of the concession term, transfer the port to NPA. LPLE will earn revenues through operations of the port.
Upon completion, Lekki Port will have a total of 3 container berths, 1 dry bulk berth and 3 liquid berths.
The shareholding structure of the Port is as follows:
|International Consortium led by Lekki Port Investment Holding Inc. (Tolaram Group)||75.00|
|Lagos State Government||20.00|
|Nigerian Ports Authority||05.00|
Structure and Responsibility
On 21 April 2011, LPLE entered into a Concession Agreement with NPA for the rights to build and operate a deep-sea port in Ibeju Lekki, Nigeria. This Concession is granted under the Nigerian Ports Authority Act 2004. The Concession and the Nigerian Ports Authority Act 2004, form the legal and regulatory basis for the construction and operation of Lekki Port.
As LPLE has ultimate responsibility under the Concession Agreement, it will manage the interfaces between NPA, the Lekki Port operations manager and the three industry specialist terminal operators.