Nigeria opens ‘game changer’ billion-dollar deep seaport
Nigeria has opened a billion-dollar Chinese-built deep seaport in Lagos on Monday, which is expected to ease congestion at the country’s ports and help it become an African hub for transshipment, handling cargoes in transit for other destinations.
President Muhammadu Buhari has made building infrastructure a key pillar of his government’s economic policy, and hopes that this will help his ruling party win votes during next month’s presidential election.
The new Lekki Deep Sea Port is 75percent owned by the China Harbour Engineering Company and Tolaram group, with the balance shared between the Lagos state government and the Nigerian Ports Authority.
Chinese Ambassador to Nigeria Cui Jianchun stated after the port was commissioned by President Buhari that “This is a transformative project, game changer project. This project could create at least 200,000 jobs,”.
China is among the largest bilateral lenders to Nigeria and has funded rail, roads and power stations.
Related Posts
Agboola advocates stronger cross-border infrastructure
Flutterwave CEO and Founder, Olugbenga “GB” Agboola , has called for accelerated investment in Africa’s cross-border payment infrastructure…
By
Munga increases stake in Equity Group by over $1.2m
Equity Group founder, Peter Munga, has made a strong return to the lender’s shareholder register, purchasing 3.64 million…
Nigerian Breweries gains N383bn revenue in Q1 2025
Nigerian Breweries Plc (NB) has posted a strong financial turnaround, recording a 69 per cent increase in net…
IHS Brazil expands Amazon coffee initiative
IHS Brazil has planted approximately 20,000 new seedlings across 10 hectares as part of its ongoing support for…
Gallery
