Lagos and FG partner on sea port

The Federal Government and the Lagos State Government on Monday signed an agreement for the construction of a deep sea port within Lekki area of the state.The Managing Director of Nigeria Ports Authority (NPA) Mr. Habib Abdullahi, who signed the agreement on behalf of the Federal Government, said the project was conceived to complement the Tin Can and Apapa Ports.

Abdullahi, who noted that the two existing ports had already been overstretched, said the project would significantly help tackle the problem of ports congestion when completed.He said: “The partnership is such that, there is one foreign investor, ‘Ports at Lekki` in the deal on 60-20-20 sorts of, 60 percent for the foreign investors,20 for the Federal Government through the NPA and 20percent equity for the state government. That is how it is going to work.

“The driving force will be the foreign partners, who have already started work there, they have already invested some amount and we are expected also to put in our equities.”He assured that the NPA would provide technical support for the project to ensure it complied with the required standards, adding that the NPA planned the construction of more ports for the state as well as other parts of the country. Speaking on behalf of Lagos government, Commissioner for Commerce and Industry, Mrs. Senapon  Oworu said the project  was  conceived out of the need to have a modern and a truly deep sea port that could take large vessels in the country.

She explained that the existing ports in the country were full, saying they no longer had the capacity to handle the traffic accompanying the expansion of the nation`s economy.“The first phase is what we are commencing now and God willing, in the next three years, the first phase would be completed,” she said. Mr. Joseph Sanusi, former Central Bank Nigeria governor, said the project, when completed would not only impact positively on the state`s economy, but also the national economy.