Lagos State Governor, Babajide Sanwo-Olu, has announced that work will soon commence on Phase Two of the Lekki Port project, a move aimed at strengthening Lagos’ position as West Africa’s leading maritime and logistics hub.
Sanwo-Olu made the disclosure on Tuesday at the Invest Lagos Summit 3.0 held at Eko Hotels and Suites, Victoria Island, Lagos, where he highlighted the state government’s commitment to infrastructure development and economic growth.
The governor said the rapid expansion and increasing activities at the Lekki Deep Seaport had made it necessary to begin preparations for the next phase of development.
According to him, the expansion will significantly increase cargo-handling capacity, improve maritime trade operations, and further position Lagos as a major gateway to the African Continental Free Trade Area market.
Sanwo-Olu noted that the AfCFTA presents enormous opportunities with a market of more than 1.4 billion people and a combined Gross Domestic Product exceeding $3 trillion.
He said Lagos occupies a strategic position within that framework and must continue investing in critical infrastructure to maximize the benefits.
He explained that the Lekki Deep Seaport is already approaching the limits of its installed capacity less than five years after becoming operational, making the commencement of Phase Two a necessity rather than an option.
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“With the AfCFTA creating a market of over 1.4 billion people and a combined gross domestic product exceeding $3tn, Lagos occupies a uniquely strategic position.
The Lekki Deep Seaport, within five years, is moving to phase two because it is almost reaching the full potential of its installed capacity,” the governor said.
He added that the port expansion forms part of several infrastructure projects that are already funded, progressing, and transforming the investment landscape in Lagos State.
Also speaking at the summit, the Managing Director of Lekki Port, Wang Qiang, praised the Lagos State Government for creating a stable and investor-friendly environment that has encouraged long-term investments in the maritime sector.
Qiang said the next phase of the project would expand the port’s operational capacity, improve logistics efficiency along the Lekki Corridor, and attract more international shipping and logistics companies to Nigeria.
He noted that the expansion aligns with Nigeria’s trade facilitation objectives and will support growing regional and global shipping demands.
According to him, the continued support of the Lagos State Government has been instrumental in the port’s success, adding that Phase Two marks a significant milestone in efforts to strengthen Lekki Port’s status as a leading trade gateway for West Africa.
The Lekki Deep Seaport, one of Nigeria’s largest infrastructure projects, is expected to play a key role in boosting exports, facilitating imports, creating jobs, and enhancing Nigeria’s competitiveness in regional and international trade.