Nigeria: Cargo Volumes, Evacuation Bottlenecks Disincentive to Investors At Lekki Port

Troubling issues about evacuation bottlenecks that will discourage high cargo traffic may have dampened interest of investors in the Lekki Deep sea port project being executed under a public, private partnership (PPP) arrangement.

Promoters of the Lagos Free Trade Zone (LFTZ), Tolaram Group, is shopping for $800 million from local and international financial institutions to actualise the proposed Lekki Deep Sea Port project, which is estimated to cost $1.35 billion (about N200 billion), according to federal executive council (FEC). But promoters allegedly could not convince investors on how it propose to draw cargo traffic to the port facility especially because of evacuation bottlenecks.

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