The Federal Government has stated that upon the completion of the Lekki Deep Sea Port, it is expected to create about 170,000 jobs and generate $201 billion in earnings from royalties, taxes, and duties. This was made known on Wednesday by the Minister of Information and Culture, Lai Mohammed after the conclusion of a tour of the facility located at the Lagos Free Trade Zone.
He said, “The government is so passionate about the business environment; you know there is a presidential council on that. There won’t be a priority on taxing the public; neither would there be multiple taxations. So, we are quite aware of that. The decision to make this port work will determine the quality of the port.
“We are looking at the bigger picture, not just a small picture of how much revenue we are going to generate from time to time, but how many more jobs we are going to create by a more liberal approach. We are looking at the rail system, which is the cheapest and more efficient means of transportation.”
According to him, the port is expected to be completed by September 2022 and it would ensure Nigeria regains the maritime businesses which were lost to ports in Togo, Cote d’Ivoire, and Ghana.
Mohammed said, “A major advantage we have to leverage is trans-shipment. With this port, Nigeria will become a trans-shipment hub and the revenue we are currently losing to our neighboring countries will come here”.
He also said the port would enable the Country to take advantage of the African Continental Free Trade Agreement (AFCTA).
According to reports, the Lekki Deep Sea Port is the deepest in Nigeria and West Africa which covers a land area of 90 hectares and has a concession period of 45 years.
