Lekki Port plan, catalyst for economic, says ICRC boss

The Infrastructure Concession and Regulatory Commission (ICRC) has lauded the emerging Lekki Port initiative as a catalyst for national , regional and African economic growth .
Chidi Izuwah, Acting Director General of ICRC said this at the weekend when he visited and inspected ongoing construction at the port site in Lekki area of Lagos State.
Izuwah who harped on the need for promoters of the Lekki Deep Seaport project to involve Nigerian engineers in the ongoing construction of the port,expressed optimism in the ability of the project to boost import, port environment manufacturing, export , increased job creation and promotion of a network of ancillary businesses.
He also reiterated Federal Government’s willingness to ensure the port comes alive as scheduled by assisting in it’s drive for additional equity participation to boost it’s funding and impact.
“I promise you that the ICRC under my leadership will go above and beyond the call of duty to assist you reach financial close. We are willing to join you on ‘ focused lender/investor road shows to seek additional depth and equity capital.
Izuwah also assured of government’s drive to ensure that cargo movements into and out of the port will be done seamlessly without hitches that will impede free flow of trade
” We will also play a key role in driving the creation of an inter government and agency high impact team to solve some of the projects immediate problems like a high capacity evacuation route from the port site to assure investors and lenders that all containers and goods arriving at the ports will be evacuated flawlessly and efficiently.”
The concession agreement for Lekki Port was signed on April 21 2011 by NPA, the Lagos State Government and Lekki Port LFI‘Z Enterprise. The project has a contract term of Forty-Five (45) years.
The project holds a capacity to generate over 170,000 direct and indirect new jobs in the economy, as well as, contribute positively to the revenue drive of Lagos State Government and Nigeria while urbanizing the Akodo Ibeju and other communities around the port area .
He added ”we are aware that the promoters of this project are targeting about 1.5 million Twenty-foot Equivalent Units container capacity annually, which they expect to grow to about 2.7 million and 4.5 million TEUs when the project operations commence.
“With this fit, Lekki port will no doubt become one of the largest deep water ports in our region, and serve as a hub for port operations in the whole of West Africa.
“The promoters also plan to dredge the port channel to about 16 metres draught which is not currently obtainable in any sea port in the country. This in itself is an indication that ships of larger sizes will visit the port and greater efficiency and economy of scale will generate significant revenues for the Nigerian economy with government earning a significant portion of it.”
Izuwah also urged the port management to involve members of the Council for Registered Engineers of Nigeria (COREN) and the Nigeria Society of Engineers (NSE) in the project as a tool for infrastructural development and increased local content adherence
According to him, involvement of the two engineering groups in Nigeria will boost local capacity and would equally provide technological advancements for the country.
Izuwah explained that the local content development participation would further add value to the project and provide job opportunities of the overall interest and benefit of people and government.
On the level of construction of the port, the DG expressed satisfaction over the level of progress made on the site but urged the Lekki Port owners to encourage revised capital flights to encourage local content development in the country.
“The project is at its early stages ,what am saying is that they should ensure from a regulatory point of view to liaise and engage the regulatory bodies which is COREN and NSE.
“This project is going to create about hundred and seventy thousand jobs and we want Nigerians to be involved because it help us from a Corporate Social Responsibility “,he said.
“I have said this, bearing in mind the enormous work which has already been done by the project promoters and the quantum of resources committed to this cause.
Reacting on behalf of the Lekki Port, General Manager Project, Mr. Steven Heukelom said that the project has engaged over 5000 work force of Nigerians on the peak period.
Heukelom added that students from University of Lagos have been part of process as regards local capacity development adding that the China Harbour Engineering Company has been instructed to engage a large number Nigerians in the ongoing construction works.
Speaking about the progress of work at the site, Heukelon, said that concrete was already being mixed to construct the quay wall around the breakwater ocean and in two weeks time, construction will start.