The Federal Government is forecasting approximately $200 billion in revenue from the Lekki Deep Sea Port over the next 45 years, Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced. This estimate covers earnings from taxes, royalties, and port duties.
Oyetola shared these projections at a breakfast meeting hosted by the Nigerian Chamber of Shipping, in collaboration with the port’s management. He highlighted the port’s transformative potential for the economy, noting its role in reducing congestion at Nigeria’s overburdened ports, particularly in Lagos.
According to the minister, the port is also expected to generate nearly 170,000 jobs, while delivering a direct and indirect business impact estimated at $158 billion.
Launched into full commercial operations in April 2023, the Lekki Deep Sea Port is Nigeria’s first fully automated deep seaport, outfitted with advanced features such as super post-Panamax cranes and rubber-tyre gantry cranes.
Oyetola confirmed ongoing efforts by the federal and Lagos State governments, alongside private sector partners, to complete critical road access networks. These infrastructure investments have reportedly improved cargo movement, restored investor confidence, and enhanced trade efficiency.
