Business Hilights

Tracking Nigeria's Headline Business News Online

NPA Warri Port
Transport

Lagos in need of two more seaports to complement Apapa ports— Sanwo-Olu

Chevron
Advertisements
Ad 2
Advertisements
Ad 3
Advertisements

The Lagos State Governor, Mr. Babajide Sanwo-Olu, has renewed the interest of the state on the quest to develop another two deep seaport to complement the already stretched capacities of both Apapa and Tin Can Island ports.

Accordingly, he has called on the Nigerian Ports Authority (NPA) to accelerate the process of giving approval to the State’s request to build the two seaports in Lekki and Badagry in partnership with private sector investors.

Speaking on Monday at the reception of members of the House of Representatives Ad-Hoc Committee on Ports Decongestion led by Hon. Yusuf Buba Yakub, Sanwo-Olu revealed that even before his election as governor, plans on the two multibillion naira schemes had been on the table by his predecessors.

He said the state had already deployed resources and manpower in the construction of the seaports, but had been delayed by none complementary signals from the port regulator, the NPA in terms of approvals.

According to him, “Lagos needs to have two other ports which would not only serve us but also build the national economy. We have initiated the development of Lekki seaport, which has started. We are building another port in Badagry.

“But, we are still in conversation with the NPA to grant the approval, because we have added five developers, financiers, and partners on the Badagry port. If we can finish the construction of both seaports, it would free up the congestion in the Apapa axis and create a new business hub for our people.”

In his further submission to buttress his calls for early approvals by the NPA, he disclosed that the Federal Government’s move to grow non-oil sector exports in boosting the economy would be rewarding if the capacities of the existing seaports were efficiently maximised.

Sanwo-Olu recalled that his visit to the two Lagos ports within 48 hours after he assumed office where he observed their stretched elastic capacities was an indication of the strategic role the two seaports were playing in sustaining the state’s 24-hour economy.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.