President Buhari being welcomed by State Governor Ambode as he makes historic visit to the Prestigious City of Lagos

Nigeria's economic capital Lagos was on a lockdown on Thursday as President Muhammadu Buhari makes his first official visit to the city of 22 million inhabitants since coming to power in 2015.

For Thursday's visit, many businesses including banks, shops and markets were shut in the fifth largest economy on the continent as Hundreds of commuters and workers were stranded at bus stops to allow for a hitch-free visit, with many forced to trek several kilometres to their destinations as commercial buses were off the roads.

President Muhammadu Buhari is set to lay a foundation stone for the $1.5 billion Lekki Deep Seaport, the first in the country.The seaport situated at the heart of the Lagos Free Trade Zone, will be one of the most modern ports in West Africa, offering enormous support to the burgeoning commercial operations across Nigeria and the entire West Africa.When completed, the port will have three container berths, one dry bulk berth, three liquid berths, 16.5-meter draught, 600-meter turning cycle and a 2.7 million Twenty Foot Equivalent Unit (TEUs) per year.Built on more than 90 hectares of land, the Lekki port is situated 65 kilometers east of Lagos city and its is billed to be completed in 2020.According to Lekki Port LFTZ Enterprise, “the development of LekkiDeep Sea Port has been conceptualised on the basis of a significant gap in projected demand and capacity.Market studies indicate that the demand for containers is expected togrow at a CAGR of 12.9 per cent up to 2025. However, given the expansion constraints on the existing infrastructure, the capacity in Lagos is incapable to meet the growing demand.“The capacity shortfall for container terminal facilities in Lagos was projected to be 0.8 million TEUs in 2016 going up to 5.5 million TEUs in 2025. The strategic location, flexible and optimised layout and modern facilities provide Lekki port a distinct competitive edge over any other port facility in West Africa.”The Chief Executive Officer of the enterprise, Navin Nahata, commended Lagos State Government and the Nigerian Ports Authority (NPA), the major stakeholders in the project, for their unwavering support. Nahata noted that the commencement of construction and the quick progress recorded so far could not have been possible withoutthe stakeholders. He also commended the Minister of Transportation, Rotimi Amaechi, as well as other regulatory agencies for their commitment to making the port a reality. He praised the host communities for being peaceful and supportive.Lagos State Commissioner for Commerce, Industry and Co-operatives, Mrs. Olayinka Oladunjoye, assured the managementof Lekki Port of the unwavering commitment of the Governor Akinwumi Ambode-led administrationtowards the actualisation of the project.The Managing Director of the NPA, Hadiza Bala Usman, reaffirmed the support and partnership of the Federal Government to the project through the Ports Authority.
Source : Mister #Dre