...Minister Says Port Operating At 20% Capacity
Harboursandport.com: Lagos, Nigeria - August 20, 2025: Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, has declared that the Lekki Deep Seaport is the game-changing model that will unlock over $200 billion in government revenue and propel Nigeria into global shipping leadership.
Addressing port stakeholders at the Nigerian Chamber of Shipping’s, NCS Breakfast Meeting in Lagos on Tuesday, Oyetola described Lekki as “a clear playbook for transforming the nation's maritime sector into Africa’s most efficient trade gateway.”
His words: "Lekki Port shows us what happens when vision, policy, and investment align. It is only running at 20 percent of its capacity - yet already easing congestion, generating jobs, and drawing global investors. The opportunities ahead are limitless."
The $1.5 billion port, located in the Lagos Free Trade Zone, is West Africa’s first deep-sea facility, with a capacity of 1.2 million TEUs and the ability to host mega-vessels carrying up to 18,000 containers.
Oyetola announced that the Federal Government is now set to replicate the Lekki model nationwide, with modernisation projects underway at Apapa, Onne, Calabar, and Rivers Ports, alongside the rollout of a digital port community system integrated with the National Single Window, NSW to eliminate bottlenecks.
Meanwhile, the Minister also lamented that without a strong Nigerian-owned fleet, the maritime economy risks losing critical value.
“A strong national shipping line is non-negotiable. That is why we have directed NIMASA to begin disbursement of the Cabotage Vessel Financing Fund, CVFF.
Our indigenous shipowners must now take the lead in acquiring modern vessels and flying the Nigerian flag proudly on international routes.”
Industry experts say the Lekki Seaport’s success is already shifting trade dynamics in West Africa, positioning Nigeria as a logistics hub of choice and Oyetola insisted the government is determined to seize the momentum.
“The opportunities before us are immense. We must build a maritime sector that drives inclusive growth, strengthens Nigeria’s regional leadership, and rewrites the story of our economic future," he added.
In his welcome address at the event, the President of Nigerian Chamber of Shipping, Aminu Umar, remarked that "for a maritime nation like Nigeria, shipping and maritime logistics are not just enablers of commerce; they are central to national prosperity. It is therefore fitting that such a vital Ministry is being steered by a resilient and determined leader like the minister Marine and Blue Economy.
"We are equally delighted to partner with Lekki Deep Sea Port in hosting this event. The port, a landmark infrastructure in the Lagos Free Zone, has already demonstrated its potential as a regional hub, supporting international trade volumes and contributing to economic growth."
He expressed optimism that the stakeholders engagement will open the door to lasting achievements for the Chamber, the Ministry, the maritime industry, and indeed for Nigeria.
Meanwhile, the Managing Director of Nigerian Ports Authority, NPA, Abubakar Dantsoho, listed challenges limiting Nigerian ports to include shallow draft, inefficiencies at the ports, decaying infrastructure, among others.
The NPA boss, however, expressed delight that the Lekki deep seaport has addressed some of these challenges with automated processes and port efficiency, although, he stressed the need for supporting infrastructure such as railways.
Managing Director/CEO, Lekki Port LFTZ Enterprise Limited, Mr. Wang Qiang, described Lekki Deep Seaport model as a successful example of Public-Private Partnerships, PPP showcasing the critical ingredients such as; bankable structure, predictable regulation, performance contracts, local content and skills.
"The Lekki Port Playbook aligns with the National Policy for Marine and Blue Economy. Adoption of the playbook can further optimizer Nigeria's potential for maritime infrastructure and technology development; significant revenue generation; job creation and strategic economic diversification.
"When Lekki Port commenced transshipment operations in 2023, it positioned the country as a transshipment hub under the African Continental Free Trade Agreement, AfCFTA. This has helped regain the maritime businesses formerly lost to other West African countries," he said.
At the event, the President of Association of Nigeria Licensed Customs Agents, ANLCA, Emenike Nwokeoji, highlighted challenges encouraging shippers to utilise other West African ports to include; inadequate port infrastructure and War Risk Insurance surcharge on Nigerian-bound vessels.
He equally queried the freight differential between same cargoes calling in Lagos and other parts of the country.
In his goodwill message, the Secretary General of the International Chamber of Shipping, ICS, Thomas Kazakos, commended NCS for taking the initiative to drive strategic dialogue between the port operator, government regulators and private sector stakeholders.
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