Federal Government says Lekki Port to generate 201 billion dollars.

Written by on May 7, 2022

Minister of Information and Culture, Alhaji Lai Mohammed, said the port would be a big boost to Nigeria in its quest to take advantage of the African Continental Free Trade Agreement (AfCFTA).

The minister who spoke while on inspection of the 1.53 billion dollars’ facility, said the port – a build- own- operate and transfer project, would be a pacesetter and an economic game-changer because of the jobs it will create.

Mohammed said when fully operational, the deep seaport will create 169,972 jobs and bring revenues totalling 201 billion dollars to the Lagos State and Federal Governments through taxes, royalties and duties.

According to the minister, the direct and induced business revenue impact is estimated at 158 billion dollars in addition to a qualitative impact on the manufacturing, trade and commercial services sector

He said the aggregate impact has been put at 361 billion dollars in 45 years, which will be over 200 times the cost of building it.

Ango Bally

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