President Muhammadu Buhari, on Monday, inaugurated the Lekki Deep Sea Port in Itoke village, Ibeju-Lekki, Lagos State.
The project with an investment in excess of $1.5 billion is a joint venture between the Federal Government through the Nigerian Ports Authority, Lagos State Government, the Tolarams Group (the owner of the Lagos Free Zone), and China Harbour Engineering Company.
According to a statement issued by his spokesman, Femi Adesina, President Buhari also inaugurated the Imota Rice Mill, conceptualised and completed by Lagos State Governor, Babajide Sanwo-Olu, and the Bestaf Lubricant at MRS Holdings Company Limited.
Speaking at the event, Governor Sanwo-Olu said: “Mr President, we are happy this is happening in your time. It all started in your time and it’s been completed in your time.
“We are excited that the size of the vessels that will berth at the port would be four times the size of vessels that currently berth at Apapa and Tin Can Island Port.
“We are excited that in your own time, something fresh has been birthed in this country and it is going to generate thousands of direct and indirect jobs.”
On his part, the Minister of Transportation, Muazu Sambo, said the commissioning of the project was made possible by the expedited manner the President handled all requests made by the Federal Ministry of Transportation concerning Lekki Deep Seaport.
“The very fact that the letter of intent between the proponents of Lekki Deep Seaport and its financial partners was signed as recently as April 2019 and by January 2023 the wide-ranging impact project is already being commissioned is a testament to the tenacity of purpose of the Federal Ministry of Transportation through the Nigerian Ports Authority,” Sambo stated.
He thanked Buhari for approving the ministry’s request to designate Lekki Deep Seaport as Customs Port and approved Wharf and its publication in the Federal Government Official Gazette in record time.
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“With Seaports being under the exclusive legislative list, the Nigerian Ports Authority’s provision of a sinking fund for Lekki Deep Seaport Federal Government’s equity contribution gave this project the necessary statutory cover and financial guarantee in line with the law.
“Completing a project of the magnitude and impact of a deep seaport in a record time of 45 months shows the effectiveness of tenacious ministerial supervision, strict regulatory oversight and strong presidential backing,” the minister said.
Sambo, who described the project as one of the major legacies of this administration, added that over 170,000 jobs would be created as operations commence.
Also speaking, the Chinese Ambassador to Nigeria, Ciu Jianchun, said the project jointly built by five parties from four countries is a fitting example of a good business model.
He pledged that China would promote this business model to pursue the Win-Win outcome, particularly to the growth, development and progress of Nigeria.
Using the analogy of three initial ‘E words’, the Ambassador said the project is Engine of the Economy, Equity of Investment, and Example of Model Business.
Meanwhile, President Buhari will on Tuesday inaugurate the first phase of the Blue Line of the Lagos Rail Mass Transit in Marina and the John Randle Centre for Yoruba Culture and History at Onikan roundabout.
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