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HomeEconomyNigeria opens multibillion-dollar 'game-changer' deep sea port

Nigeria opens multibillion-dollar 'game-changer' deep sea port

By Seun Sanni

LAGOS (Reuters) – Nigeria opened a $1 billion China-built deepwater seaport in Lagos on Monday, which is expected to ease the congestion at Chinese ports and help it become a trans-shipment hub for Africa, handling cargo transshipped to other destinations.

President Muhammadu Buhari has made building infrastructure a key pillar of his government’s economic policy and hopes it will help his ruling party win in next month’s presidential election vote.

The new Lekki Deep Sea Port 75% is owned by China Harbor Engineering Company and Tolaram Group, with the balance by Lagos State Government and Nigerian Ports Authority.

“This is a transformative project, a game-changing project. This project will at least create

,000 work,” Cui Jianchun, China’s ambassador to Nigeria, told Reuters after the opening of the Buhari port.

China is one of the largest bilateral traders to lend to Nigeria and finance railways, roads and power stations.

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