Nigeria Opens Billion Dollar Deep Seaport in Lagos

  • L-R: President Muhammadu Buhari, Lagos State Governor Babajide Sanwo-Olu, Ogun State Governor Dapo Abiodun. Photo by Temilade Adelaja

Building infrastructure has become a cornerstone of President Muhammadu Buhari’s economic strategy in the expectation that it will assist his party win votes in the upcoming presidential elections.

This is why Nigeria on Monday, inaugurated a $1 billion deep seaport in Lagos that was constructed by China. This port is designed to relieve congestion at the nation’s ports and help Nigeria develop into an African hub for transshipment, handling shipments en route to other locations.

The Chinese Harbour Engineering Company and Tolaram group control 75% of the new Lekki Deep Sea Port, with the remaining 25% being split between the Lagos state government and the Nigerian Ports Authority. China is one of Nigeria’s top bilateral lenders and has funded power plants, highways, and rail lines.

In a chat with Reuters after President Buhari had commissioned the port, the Chinese ambassador to Nigeria Cui Jianchun noted important this project is in the transformation of the country across all phased including economic and employment boosting. In his words, “This is a transformative project, game changer project. This project could create at least 200,000 jobs.”

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