The Minister of Marine and Blue Economy, Adegboyega Oyetola, has stated that Lekki Deep Sea Port is expected to generate as much as $200 billion for Nigeria during its 45-year concession.
Oyetola remarked at a breakfast meeting hosted by the Nigerian Chamber of Shipping (NCS) in partnership with Lekki Port on August 19, 2025. He explained that since the port began operations, congestion at Lagos and other ports has reduced significantly, while Nigeria’s position as a regional logistics hub has strengthened.
He highlighted the world-class infrastructure of the port, stressing that the government, Lagos State, and private sector partners had worked together to provide access roads that enable faster cargo evacuation. This, he said, has restored investor confidence and improved trade efficiency.
The minister added that the port’s success rests on five key pillars: strategic location, strong public–private partnerships, multimodal transport links, supportive policies, and technology-driven operations.
During the same event, Wang Qiang, Managing Director of Lekki Port, described the facility as a transformative project for Nigeria’s trade and economy. He noted that advanced equipment, such as Post Panamax Ship-to-Shore Cranes and drive-through scanners, has reduced ship turnaround times and improved port efficiency.
Qiang further revealed that the port is projected to contribute $361 billion to the economy during its lifespan and generate over $201 billion in revenue for federal and state governments through taxes and duties. He also stressed that Lekki Port had already positioned Nigeria as a regional transhipment hub since 2023.
Other speakers, including NPA Managing Director Abubakar Dantsoho and NCS President Aminu Umar, underscored the need to replicate Lekki Port’s success across the country to unlock Nigeria’s full maritime potential.
