…management blames naira devaluation, subsidy removal; vows recovery through transshipment boost
Nigeria’s flagship maritime infrastructure, Lekki Deep Sea Port, is operating at just 20 percent of its installed capacity despite boasting a projected throughput of 1.2 million Twenty-foot Equivalent Units (TEUs) annually. However, port authorities say strategic recovery efforts are underway, with cargo volumes expected to hit 500,000 TEUs by the end of 2025.
Speaking with journalists in Lagos, Mr. Daniel Odibe, Deputy Managing Director of Lekki Port, attributed the underwhelming performance to macroeconomic challenges—particularly the removal of fuel subsidies and the sharp devaluation of the Naira, both of which have suppressed import volumes.
“Volumes fell due to the depreciation of the Naira and the removal of subsidies. These factors caused a setback in our earlier projections,” Odibe said.
Despite the downturn, Odibe noted signs of recovery, particularly in transshipment activities, which have surged with increased vessel traffic to Togo, Ghana, Abidjan, and landlocked West African nations. The port now receives 10 to 12 vessels monthly.
According to him, 54,289 TEUs were handled in 2023—Lekki Port’s first full year of operations—while 222,000 TEUs have already been processed in 2025 as of June.
“We are on track to reach between 400,000 and 500,000 TEUs before the year ends,” he added.
Efficiency Gains
Operational metrics show improvements, with vessel turnaround times averaging 48 hours, truck turnaround at 1 hour 25 minutes, and cargo dwell time currently at 16 days—a figure the management hopes to reduce further through technological upgrades and process optimization.
In a related briefing, Mr. Young Xixiong, Managing Director and Chief Operating Officer of Lekki Port, reaffirmed the company’s mission to set new benchmarks in port operations across West Africa.
Represented by Chief Operating Officer Mr. Wang, he emphasized Lekki Port’s position as West Africa’s deepest seaport and a game-changer for regional trade.
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“We continue to push the envelope and set the bar higher to uphold our position as West Africa’s deepest sea port. Our commitment to international standards is evident in the significant impact we are making on maritime trade across Africa,” Wang said.
Xixiong further highlighted plans to deploy cutting-edge technology and data systems to boost cargo handling efficiency, enhance transparency, and improve regional logistics outcomes.
Strategic Outlook
Located in the Lagos Free Zone, Lekki Deep Sea Port is Nigeria’s first fully automated port and a key infrastructure hub designed to revolutionize the country’s maritime logistics landscape. The project is expected to reduce pressure on Apapa Port, facilitate regional transshipment trade, and improve supply chain competitiveness for businesses across West Africa.
Although the port’s underperformance reflects Nigeria’s broader economic turbulence, analysts say its transshipment focus, strategic positioning, and robust infrastructure give it the tools to rebound and eventually meet its long-term potential.
The port’s management says policy stability, improved customs coordination, and support from shipping lines will be critical to unlocking the next phase of growth.