Gbenga Kuye, the managing director of the Nigeria Export Processing Zones Authority (NEPZA) said the authority would give its support to the construction of the proposed $1.4 billion Lekki deep seaport.
Kuye, who described the port project as a multi-purpose seaport that would support international trade in Nigeria and the entire West African region, said this during a working trip to South Korea and Singapore, last week, for the inspection of the ongoing construction work of Total Upstream Nigeria’s Egina Floating Production, Storage and Offloading (FPSO) Unit, at the Samsung Heavy Industries (SHI) Shipyard.
A statement signed by Richard Obianu, head, Corporate Communications of NEPZA, said that Kuye, who expressed satisfaction with the overall progress of the project, added that at completion, Lekki deep seaport, will be one of the most modern in the world.
According him, NEPZA is committed to the development of the deep seaport, located at the heart of the Lagos Free Trade Zone. “This is because construction of the port will have a positive multiplier effect on the development of Free Trade Zones and enterprises in the Lekki area of Lagos.”
Accompanied by the acting high commissioner of Nigeria to Singapore, Zainab Tani Zakari-Awami, visited the headquarters of Tolaram Group, promoters of the Lekki deep seaport, to assess progress on the development of the port project.
The Tolaram Group described the visit of the NEPZA managing director to Singapore as a huge success, noting that it reinforces the commitment by International Enterprise Singapore (IES) to accelerate its investment and development activities in Nigeria, with the ultimate goal of contributing to the Federal Government’s efforts to industrialize and diversify Nigeria’s economy.
Recall that Tolaram Group, the developer of the Lekki Deep Seaport, said late last year that it is finalising discussions with the lenders backing the port project to have access to 100 percent of the fund needed to execute it.
The port project is jointly financed by a consortium of six banks, which include the African Development Bank (AFDB), the European Investment Bank (EIB), Standard Chartered Bank (SCB), RMB, Africa Finance Corporation (AFC) and Standard Bank. It is jointly owned and developed by the Tolaram Group, the Nigerian Ports Authority (NPA) and the Lagos State Government as equity investors. Tolaram has the concession to build and operate the port for 45 years.


Please enter your comment!
Please enter your name here