Home Business Osinbajo say Lekki Deep Seaport will benefit economy

Osinbajo say Lekki Deep Seaport will benefit economy

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THUR, MARCH 29 2018-theG&BJournal-Vice President Yemi Osinbajo believes the Lekki deep seaport port would become one of the largest deep-water ports in West Africa and serve as a hub for port operations in the whole of the sub-region.

He performed the official flag-off ceremony for the construction of the port in Lagos, Nigeria today with the deputy governor of Lagos State, Dr Idiat Adebule; and the Ministers of Trade and Investment, Dr Okechukwu Enelamah present at the ceremony.

”Once completed, the government expects the port to influence the generation of up to 170,000 direct and indirect jobs in the Nigerian economy,” Osinbajo said.

The Vice President added the construction of the port would also enhance the Economic Recovery and Growth Plan (ERGP), and its emphasis on supporting game-changing infrastructural projects directed at making major impacts in trade and commerce sector.

Osinbajo said the construction of the port which targets about 4.7 million 20-foot equivalent unit container capacity annually when the project operations commences, would equally help to enhance the Economic Recovery and Growth Plan (ERGP), and its emphasis on supporting game-changing infrastructural projects directed at making major impacts in trade and commerce sector. The Vice President noted that project is essentially private sector driven.

Professor Osinbajo said the government remains committed to its economic philosophy of private sector leadership in its economic development effort. He also commended the state government and other promoters of the project, as well as the Minister of Transportation, Mr Chibuike Amaechi.

He revealed that the Federal Government has provided an aggregate of about N90bn for the development of special economic zones in its last two budgets.

“We are developing the Lekki special economic zone as a model special economic zone specifically targeting exports. The development of this deep seaport is mission critical to the achievement of the important objectives of creating a special economic zone,” the  Vice President said.