Construction completed on Nigeria’s $1.5 billion Lekki Deep Sea Port
The Lekki port is one of the most modern and forward-thinking infrastructures in Nigeria’s commercial marine sector. The project is expected to drive employment, business development and exports in the port, which is positioned as one of the largest deep sea port structures in Africa.
The project is expected to provide a major boost to Nigeria’s private sector and create more than 300,000 jobs. Also, the project is expected to allow the country to export up to 1.7 million tons of oil cargo per year.
The port is scheduled to be completed in 2018 and is in line to become a key entry point to the Nigerian continental oil and gas industry.
At a time when the country’s economy is suffering the most from low oil prices and global recession and inflation has reached double digits, the investment from Nigerian oil, gas and mineral companies is a boost in growth and development.
Oil firm Total plans to invest $700 million in Nigerian oil and gas companies in 2013.
Total and other Nigerian oil majors will invest $700 million in Nigerian oil companies in the following five years.
A new Nigerian oil pipeline is being constructed. When launched in 2012, the project will be the biggest pipeline in Africa and will bring oil from the Niger Delta region to the country.
Other projects include refineries, a petROxy plant, the construction of an offshore terminal for oil tankers, and an offshore oil terminal.
The construction of major projects such as the refinery complex is expected to bring about a substantial increase in national revenue.
The construction of a petROxy plant will contribute to economic development in the country.
The country imports petrochemical products for use in manufacture of plastics, fertilizers and many other products.
The construction of the petROxy plant will provide manufacturing jobs and boost production of petrochemical products in the country.
Nigeria’s offshore terminal will allow the country to export oil from an oil field where it is not found, thus boosting the country’s economy.
The port is expected to contribute to an increase in oil exports and export of goods and services at the port.
The building of the port will also create jobs and boost business.
Infrastructure
