The minister of marine and blue economy, Adegboyega Oyetola, said the Lekki Deep Seaport presents vast, untapped opportunities for investors.
Speaking at the Nigerian Chamber of Shipping Breakfast Meeting titled: “Unlocking Opportunities: The Lekki Deep Seaport Playbook for Trade and Shipping in Nigeria,” Oyetola announced plans to replicate the success of the Lekki Deep Seaport across Nigeria’s maritime sector, citing it as a model for transformative growth and development.
Oyetola, who added that the port currently operates at only 20 per cent capacity, declared that the administration of President Bola Tinubu is committed to building a modern, safe, and globally competitive maritime sector.
Oyetola said a central component of the current administration’s strategy is the nationwide application of the public-private partnership model and logistical efficiency demonstrated by the Lekki Deep Seaport.
Valued at $1.5 billion, the Lekki facility was hailed as a “landmark achievement” and a “game-changer” for West Africa. The minister highlighted its capacity to handle 1.2 million TEUs and accommodate large vessels, noting that it has already generated thousands of direct and indirect jobs.
He also commended the completion of critical access roads, which, for the first time in decades, have freed major Nigerian ports from logistical bottlenecks.
“Cargo now moves out faster, investors move in with confidence, and trade flows without unnecessary delay,” the Minister stated.
He added that the port, which currently operates at only 20 per cent capacity, presents vast, untapped opportunities for investors.
Similarly, in a move aimed at empowering indigenous participation, the minister said he has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to immediately commence the disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners.
He emphasised that, a strong national shipping fleet is essential to building local capacity and asserting Nigeria’s presence on global trade lanes, with the ultimate goal of establishing a National Flag Carrier.
