Lekki Port will improve traffic flow in the Apapa corridor and reduce trading costs NPA
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Lekki Port will improve traffic flow in the Apapa corridor and reduce trading costs NPA
Lekki Port will improve traffic flow in the Apapa corridor and reduce trading costs – NPA
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The Nigerian Port Authority announced that the newly inaugurated $1.5 billion Lekki Port will improve traffic flow in the Apapa corridor, lower freight costs & ultimately lower trading costs.
This was disclosed in a statement on Tuesday morning by the MD NPA, Mohammed Bello Koko.
He also revealed that with the opening of the Deepest Seaport in Nigeria, FG will launch additional ports in Nigeria.
Modern Port: Koko stated that the Lekki Deep Seaport is Nigeria’s first modern port and thanked the FG for approving the request. He said:
- “The opening of the Lekki Port, Nigeria’s first modern deep-sea port with cutting-edge cargo handling equipment was especially exciting during this eventful period.
- “Thank you President Muhammadu Buhari for the expediency with which you supported and approved our request.
Reduced Costs: he added the Port will improve traffic flow from Apapa Port and reduce trading costs in Nigeria.
- “Having the deepest port in Nig will improve traffic flow in the Apapa corridor, lower freight costs & ultimately lower trading costs. For us at NPA, we intend to take advantage of this to recapture transhipment & transit cargoes that would typically call at nearby ports.
- “Through PPP, additional deep-sea ports will come on board in the next few years. Several requests are being worked on by the Authority and the Infrastructure Concession Regulatory Commission (ICRC), and the outlook is positive and promising.”
In case you missed it: Naijaonpoint reported earlier that the Infrastructure Concession Regulatory Commission (ICRC) stated the Lekki Port is a Major success story for Public-Private Partnerships in Infrastructure Development in Nigeria and is expected to contribute over $361 billion in economic impact expected in 45 years.
They added the economic impact would be Revenue from duties, royalties, and taxes at $201 billion and also a Direct/Indirect business impact of $158 billion.
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The Lekki Port is set to revolutionize traffic flow in the congested Apapa corridor, reduce trading costs for businesses, and generate new employment opportunities for the people of Nigeria. The Nigerian Port Authority (NPA) views the development of the port as a key objective in their goal to improve the country’s economy and infrastructure.
What is the Lekki Port?
The 305 acre Lekki Port will be the largest port in West Africa and a major hub for international trade. It will include a deep seaport, multiple cargo terminals, a fisheries zone, and an industrial free zone.
What are the benefits of the Lekki Port?
- Reduce transport and cargo handling costs
- Encourage greater investment in the Apapa Corridor
- Improve traffic flow in the area
- Create new employment opportunities
- Generate revenue for the Nigerian government
How will the Lekki Port reduce traffic flow in the Apapa corridor?
The port will be equipped with efficient cargo handling systems and improved gate systems which can process trucks more quickly. The increased investment in infrastructure, shipping and logistics will increase the efficiency of cargo transportation in the Apapa corridor area, leading to better traffic flows and more efficient freight delivery.
What are the Trading Costs associated with the Lekki Port?
The NPA has committed to reducing trading costs associated with the Lekki Port by making export and import clearance processes simpler and more efficient. This will save businesses time and money when shipping goods in and out of the country.
Summary
The Lekki Port is a major investment for the NPA in improving Nigeria’s infrastructure and economy. It will reduce the costs associated with shipping and trading and help to improve traffic flows in the congested Apapa corridor. The port is set to revolutionize international trade in Nigeria and create new employment opportunities in the country.
