Non-oil revenue: Nigeria to rake-in $361 billion – NEPC

Nigerian Export Promotion Council (NEPC) has said that the Lekki Deep Sea Port is expected to generate $361 billion into the country’s non-oil revenue.

The deep sea port recently commissioned by President Buhari Muhammadu is located at Itoke village, Ibeju-Lekki, in Lagos.

The Executive Director/CEO of Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak explained that the project is a joint venture between the federal government, through the Nigerian Ports Authority (NPA), Lagos State Government, the Tolarams Group (owners of the Lagos Free Zone), and China Harbour Engineering Company.

This development comes on the heel of the tremendous performance recorded in the non-oil export sector in 2022 in which the sector recorded a significant and highly impressive result of US$ 4.820 billion for the year 2022 representing an increase of 39.91% over 2021.

Yakusak noted that the Lekki Deep Sea Port will not only provide jobs, directly and indirectly along the value chain but will further ease the perennial congestion at the Apapa Ports and thereby enhance the export drive of the country as well as guarantee seamless trade facilitation.

Having been designated a Customs port, Dr. Ezra pointed out that all is now set for commercial vessels from across the world to berth and clear cargo at the port which is reported to be the country’s first Deep Sea Port and first fully automated as well.