Port Finance International Events - covering global port developments

Search site

Friday, 29 August 2014

Nigeria moves forward with $1.5bn Lekki port

The Nigerian government has moved a step closer to realising the multibillion Lekki port project. The Nigerian Ports Authority (NPA) reported this week that it had completed due diligence processes, opening the way for further investment in the project.

The seaport is a public private partnership project between the federal government, Lagos State Government (LASG) and the Tolaram Group and is expected to cost $1.5 billion.

“The stage we are in now is structuring the financial terms, which will take a short period before funding is made available to Lekki port. It is only normal that when you do such a large financing of a huge project such as this, it takes more time than building a house,” Sandeep Parasramka, chief financial officer for Lekki Port said.

The project is hoped to act as a Nigerian gateway to the West African region, catering for containerised liquid and dry bulk cargo. The government is currently speaking to investors regarding investment opportunities in the project.

“Apart from getting the concession from NPA to build Lekki Port, Tolaram has put together leading global consultants such as Standard Chartered Bank, the Louis Berger Group Incorporated, Delta Marine Consultants, BMT Asia Pacific, TBA Netherlands, Jardine Lloyd Thompson Pte Limited and GMaps following which the EPC contractor, China Harbour Engineering Company has been appointed to build the port and the container terminal has been sub-concessioned to International Container Terminal Services, Incorporation, Philippines,” Parasramka explained.


Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

Follow us


Sign up for our free newsletter