Home / Business and Economy / Buhari flags off Lekki Deep Sea Port, others in ‘Lagos Festival of Projects’ commissioning visit

Buhari flags off Lekki Deep Sea Port, others in ‘Lagos Festival of Projects’ commissioning visit

The Lekki Deep Seaport inaugurated by President Muhammadu Buhari at the Lekki Free Trade Zone in Lagos, on Monday, 23 January, 2023. Inset (l-r): President Muhammadu Buhari; Lagos State Governor, Mr Babajide Sanwo-Olu; Chinese Ambassador to Nigeria, Mr Cui Jian Chun; former Governor of Ekiti State, Dr Kayode Fayemi and Governor Dapo Abiodun of Ogun State during the unveiling of the plaque to inaugurate the Lekki Deep Seaport.

President Muhammadu Buhari on Monday officially inaugurated the Lekki Deep Sea Port located in Itoke village, Ibeju-Lekki, Lagos, observing the offloading from CMA CGM Mozart at the Quay.

The President arrived earlier on a two-day visit for a “Lagos Festival of Projects” commissioning.

His aircraft touched the ground at 3:33pm and the President was received by Lagos State Governor, Mr. Babajide Sanwo-Olu, his deputy, Dr. Obafemi Hamzat and members of the State Executive Council.

Governors Biodun Oyebanji (Ekiti) and Dapo Abiodun (Ogun) and former Governor of Ekiti State, Dr. Kayode Fayemi, Service chiefs, All Progressives Congress (APC) top shots, among others also received the President.

President Buhari was welcomed at the Presidential Wing of Lagos Airport with pomp and pageantry by the Lagos State Cultural Troupe.

He inspected the guard of honour at the Parade Ground before he flew out of the airport in a helicopter for the commissioning of projects.

The Lekki Deep Sea Port project with an investment in excess of $1.5 billion is a Joint Venture between the Federal Government of Nigeria through the Nigerian Ports Authority, Lagos State Government, the Tolarams Group (the owner of the Lagos Free Zone), and China Harbour Engineering Company.
In Lagos, the President also inaugurated the Imota Rice Mill, conceptualized and completed by Governor Babajide Sanwo-Olu of Lagos State as well as the Bestaf Lubricant at MRS Holdings Company Limited.
The 200m litre lubricant plant, which covers the whole value chain of lubricants, is the first of its kind in West Africa.
On Tuesday, the President will inaugurate the historic 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.
At the commissioning of the Lekki Deep Sea Port, the President led Governor Babajide Sanwo-Olu of Lagos State, the Minister of Transportation, Muazu Sambo, the Chinese Ambassador to Nigeria, Ciu Jianchun, top government officials and traditional rulers, to witness the overloading from the Container Ship, sailing under the flag of Malta.
Speaking at the occasion, the Lagos Governor 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 Ports.
”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.”
The Minister of Transportation noted that 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 the 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.”
He thanked the President for approving the Ministry’s extraordinary request to designate Lekki Deep Seaport as Customs Port and approved Wharf and its publication in the Federal Government Official Gazette in record time.
”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.”
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.
The Chinese Ambassador to Nigeria, in his goodwill message, said the landmark gateway project jointly built by five parties from four countries is a fitting example of a good business model.
”This project is a joint venture between China, Nigeria and Singapore, and is run by a French company. The model of ‘five parties from four countries’ is a way of taking advantage of the wisdom and strength of all parties.”
He pledged that China would promote this business model to pursue the Win-Win outcome, particularly to the growth, development and progress of Nigeria.
At the Bestaf Lubricant plant owned by Sayyu Dantata, the founder and CEO of MRS Holdings Limited said the plant, which has the capacity of producing 1,700 different products, will contribute to foreign exchange generation for the country, through products export, as well as meet the needs of other neighbouring countries.


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