The Nigerian Ports Authority (NPA) representing the Federal Government has signed an agreement with the Lagos State Government for construction of a deep seaport in Lekki – an upscale axis, on the Island part of Lagos. The project involves a private investor — Ports of Lekki — who witnessed and took part in signing the agreement. The seaport will add to the already existing Apapa seaport and the planned
Badagry seaport – in Lagos.
Speaking on the season port, the MD of NPA, Habib Abdullahi, said, “The partnership is such that, there is one foreign investor, Ports at Lekki, in the deal on a 60-20-20 per cent basis. That is 60 per cent for foreign investors, 20 per cent for Federal Government through NPA and 20 per cent equity for the state government. That is how it is going to work. The driving force will be the foreign partners, who have already started work there, they have already invested some amount and we are expected also to put in our equities.”
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This article was first published on 15th January 2013
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