Federal Government Approves $1.5 Billion Lekki Port Dredging to Enhance Maritime Trade

The Nigerian government has announced plans to deepen the Lekki Deep Seaport channel from its current depth of 16.5 meters to 17 meters, with a long-term goal of reaching 19 meters.

This development was disclosed by the Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, during his inaugural visit to the port alongside other NPA management staff. He emphasized the importance of consolidating transshipment volumes to landlocked neighboring countries.

Dantsoho highlighted the increasing throughput volume at Lekki Port, noting that its capacity to accommodate super post-Panamax vessels and ensure rapid cargo and vessel turnaround is pivotal for Nigeria’s export competitiveness, especially for agro-allied products, as the African Continental Free Trade Area (AfCFTA) gains momentum.

He attributed the consistent rise in transshipment numbers to the port’s efficiency, which meets the maritime needs of neighboring countries and supports the NPA’s objective of achieving economies of scale, thereby enhancing competitiveness.

Unlike previous times, revenue from port activities is now boosting foreign exchange inflows and significantly contributing to Nigeria’s annual trade surplus, strengthening the national economy.

Dantsoho expressed optimism that export figures will increase, with export volumes potentially doubling or tripling in the near future. He reaffirmed the Port Authority management’s commitment, with federal government support, to ensure continued growth in revenue and work volumes.

To sustain this positive trend, Dantsoho outlined several initiatives:

1. The Minister of Marine and Blue Economy, Adegboyega Oyetola, upon NPA’s recommendation, secured approval for dredging the Lekki Port channel—a project under discussion for two to three years.
2. A strategic partnership agreement has been established with China Harbour Engineering Company (CHEC) to undertake the dredging, aiming to strengthen the partnership and boost Nigeria’s trade volumes.

Dantsoho also noted that Lekki Port is well-automated, equipped with the latest technology to drive port activities efficiently.