Nigeria’s new seaport aims to become African shipment hub -Breaking

Nigeria's new seaport aims to become African shipment hub

By Camillus Eboh

ABUJA (Reuters) – Nigeria expects to develop into an African hub for transshipment with a brand new deep seaport set to open within the industrial capital of Lagos earlier than the top of this yr, its managing director mentioned on Wednesday.

Du Ruogang, managing director of Lekki Deep Sea Port — owned 75% by China Harbour Engineering Firm and Tolaram group with the steadiness between Lagos state authorities and the Nigerian Port Authority, mentioned the port has reached 89% completion.

The multi-billion greenback deep seaport which has been below improvement for greater than a decade and is located on the sting of Lagos is a part of new infrastructure that Nigeria hopes it will probably use to spice up commerce.

The brand new port with 18,000 twenty-foot equal unit capability, has greater than 4 occasions the capability that may be dealt with by present ports within the nation.

“With this port, Nigeria will develop into a transshipment hub,” Info Minister Lai Mohammed mentioned throughout a website tour.

Mohammed mentioned Nigeria needed to make use of the port funding to regain maritime enterprise misplaced to ports in Togo, Ivory Coast and Ghana, including that the brand new facility will give the nation an edge on African commerce.

African nations launched a continental free commerce space, aiming to convey 1.3 billion folks collectively in a $3.4 trillion financial bloc that supporters say will increase intra-African commerce, residing requirements and encourage improvement.

Ruogang mentioned a second part of the port improvement will begin throughout the subsequent seven years.