…administration blames naira devaluation, subsidy removing; vows restoration via transshipment increase
Nigeria’s flagship maritime infrastructure, Lekki Deep Sea Port, is working at simply 20 p.c of its put in capability regardless of boasting a projected throughput of 1.2 million Twenty-foot Equal Items (TEUs) yearly. Nevertheless, port authorities say strategic restoration efforts are underway, with cargo volumes anticipated to hit 500,000 TEUs by the tip of 2025.
Talking with journalists in Lagos, Mr. Daniel Odibe, Deputy Managing Director of Lekki Port, attributed the underwhelming efficiency to macroeconomic challenges—notably the removing of gasoline subsidies and the sharp devaluation of the Naira, each of which have suppressed import volumes.
“Volumes fell as a result of depreciation of the Naira and the removing of subsidies. These elements triggered a setback in our earlier projections,” Odibe stated.
Regardless of the downturn, Odibe famous indicators of restoration, notably in transshipment actions, which have surged with elevated vessel site visitors to Togo, Ghana, Abidjan, and landlocked West African nations. The port now receives 10 to 12 vessels month-to-month.
In keeping with him, 54,289 TEUs have been dealt with in 2023—Lekki Port’s first full yr of operations—whereas 222,000 TEUs have already been processed in 2025 as of June.
“We’re on observe to achieve between 400,000 and 500,000 TEUs earlier than the yr ends,” he added.
Effectivity Good points
Operational metrics present enhancements, with vessel turnaround instances averaging 48 hours, truck turnaround at 1 hour 25 minutes, and cargo dwell time presently at 16 days—a determine the administration hopes to cut back additional via technological upgrades and course of optimization.
In a associated briefing, Mr. Younger Xixiong, Managing Director and Chief Working Officer of Lekki Port, reaffirmed the corporate’s mission to set new benchmarks in port operations throughout West Africa.
Represented by Chief Working Officer Mr. Wang, he emphasised Lekki Port’s place as West Africa’s deepest seaport and a game-changer for regional commerce.
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“We proceed to push the envelope and set the bar larger to uphold our place as West Africa’s deepest sea port. Our dedication to worldwide requirements is obvious within the vital influence we’re making on maritime commerce throughout Africa,” Wang stated.
Xixiong additional highlighted plans to deploy cutting-edge expertise and knowledge techniques to spice up cargo dealing with effectivity, improve transparency, and enhance regional logistics outcomes.
Strategic Outlook
Positioned within the Lagos Free Zone, Lekki Deep Sea Port is Nigeria’s first absolutely automated port and a key infrastructure hub designed to revolutionize the nation’s maritime logistics panorama. The mission is anticipated to cut back strain on Apapa Port, facilitate regional transshipment commerce, and enhance provide chain competitiveness for companies throughout West Africa.
Though the port’s underperformance displays Nigeria’s broader {economic} turbulence, analysts say its transshipment focus, strategic positioning, and strong infrastructure give it the instruments to rebound and finally meet its long-term potential.
The port’s administration says coverage stability, improved customs coordination, and assist from delivery traces shall be important to unlocking the following part of progress.
