Economy
Lekki Deep Seaport Reaches Half Operational Capacity
Lekki Deep Seaport reaches nearly 50% operational capacity, with month-on-month growth in container throughput and improved connectivity driving efficiency
The Lekki Deep Seaport has reached almost half of its designed operational capacity, with steady month-on-month growth in container throughput since September, the port announced.
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Managing Director and Chief Executive Officer of Lekki Port LFTZ Enterprise Limited, Mr Wang Qiang, disclosed this during an end-of-year media parley on Tuesday, attributing the development to growing confidence from shipping lines and cargo owners.
“We already reached almost 50 per cent of our port capacity now,” Wang said, noting consistent improvements in the number of twenty-foot equivalent units handled monthly.
He emphasised the importance of efficient multimodal connectivity to sustain and accelerate growth, highlighting barge operations as a critical evacuation channel.
Wang also pointed to the ongoing Lagos–Calabar Coastal Road project, which he said would ease congestion and improve access to the port.
“Rail connectivity is essential, particularly given the scale of industrial activities emerging within the Lekki corridor,” he added.
While stressing that Lekki Port is fully automated, Wang acknowledged that delays may persist until government agencies and other stakeholders align with end-to-end digital processes.
He cited customs procedures, particularly physical cargo examinations, as areas requiring full digitalisation to reduce cargo dwell time.
“Integration between the customs system, the terminal operating system, and customers is already part of an agreed implementation schedule. For automation to work efficiently, all players must be ready—customers, government, and every stakeholder,” Wang explained.
He also noted that improved connectivity and performance optimisation could effectively double the port’s capacity without expanding its physical footprint.
The Lekki Deep Seaport, Nigeria’s first deep-sea port, is one of West Africa’s largest maritime infrastructure projects, located at Ibeju-Lekki in Lagos State within the Lagos Free Zone.
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During the media tour, journalists visited the customs examination area, scanners, and shipside operations within the terminal.
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Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has declared that no economy can attain enduring prosperity without strong institutions and strategic collaboration between government and private capital.
Delivering a keynote on the theme “Legislative Leadership and the Role of Global Private Capital in Modern Economic Growth,” at the HOC Capital Club in Lekki on Saturday, May 16, Obasa told investors, policymakers, and diplomats that global private capital thrives only where laws are clear, governance is accountable, and policies are consistent.
He emphasized that legislative leadership is central to building such an environment, noting that the Assembly’s constitutional mandate — particularly its control over public funds and oversight powers — is designed to safeguard transparency and strengthen investor trust.
“All the money that comes into the treasury must be legislated upon by the House for transparency. The power of the purse is the most effective weapon for the people’s representatives to control government spending,” he said.
Speaker Obasa stressed further that credible institutions, rule of law, and regulatory predictability are essential to attracting quality investments. However, he noted that while attracting capital is vital, growth must deliver tangible social benefits including job creation, poverty reduction, and improved public services.
He went on to spotlight landmark laws under his stewardship that have reshaped the state’s investment climate, including the Public Procurement Law (2021), Public-Private Partnership Law (2011/2015), and the Electric Power Sector Reform Law (2024). He also pointed to property protection frameworks and the ₦4.44 trillion “Budget of Shared Prosperity” for 2026 — which allocates over 52% to capital expenditure — as deliberate pointers to Lagos’ readiness for global capital inflows.
He further highlighted initiatives such as the Sovereign Wealth Fund, harmonization of taxes, and the proposed Railways Corporation Bill (2025) as evidence of Lagos’ legislative foresight and long-term economic vision.
Speaker Obasa concluded by stressing that the future of growth will depend on the quality of leadership in public institutions and the confidence inspired in the global investment community.
“Together, we can unlock the full potential of Lagos, strengthen Africa’s economic future, and establish a new benchmark for economic and diplomatic engagement on the global stage,” he declared, leaving investors with a clear message: Lagos is ready to lead, and the world is invited to invest in its promise.
The HOC Capital Club in Lekki is an exclusive private capital and global advocacy network, designed for ultra-high-net-worth individuals (UHNWIs) with verified second citizenships and a minimum net worth of $2 million. It serves as a hub where wealth, influence, and policy intersect, connecting investors, policymakers, and global citizens across continents.
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