Lekki Port Projected to Inject $360 Billion into Nigeria’s GDP, Create 170,000 Jobs Over Concession Period

Nigeria’s maritime sector received a massive economic uplift today, Tuesday, November 4, 2025, as the Managing Director of the Lekki Port LFTZ Enterprise Limited, Wang Qiang, announced staggering projections for the deep sea port’s economic impact over the coming decades.

Speaking at a stakeholders meeting in Lagos, Qiang revealed that over its 45-year concession period, the Lekki Port is expected to contribute a colossal $360 billion to Nigeria’s Gross Domestic Product (GDP) and generate approximately 170,000 direct and indirect employment opportunities.

“We have a 45-year concession period, and during this time, we expect to generate about $360 billion for Nigeria. This estimate was meticulously calculated in collaboration with the Federal Government,” Qiang stated.

The $1.5 billion port, which commenced commercial operations in 2023, is Nigeria’s first deep-sea port and is equipped to handle the largest vessels in West Africa, positioning the country as a major trans-shipment hub for the region. The Managing Director emphasized that the substantial economic impact underscores the strategic importance of the infrastructure to the nation’s entire logistics chain and economic diversification agenda.

Early Challenges and Call for Infrastructure Support

Despite the ambitious projections, Qiang was candid about the current operational phase. He revealed that the port is still operating at a loss due to the initial capital outlay, which exceeded $1 billion for construction. He, however, assured stakeholders that the port is gradually recovering and remains operationally efficient.

The MD used the forum to stress the critical need for complementary government support. “Lekki Port is just like a link point for this logistics chain. There are a lot of things we need to have from the federal government, such as infrastructural development to ensure smooth connectivity and optimal throughput,” he noted.

The Port Manager of the Nigerian Ports Authority (NPA), Emmanuel Anda, hailed the facility’s progress, describing the port as a “game-changer” for Nigeria’s trade. He expressed confidence that if the current momentum continues, the country could realistically establish itself as a global export hub within the next 10 to 15 years, finally harnessing the full potential of its blue economy.