Home BUSINESS LEKKI SEA PORT: FG, States To Earn $361BN – ICRC

LEKKI SEA PORT: FG, States To Earn $361BN – ICRC

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The Federal Government and the 36 states are expected to earn about 361 billion dollars as revenue when operation begins at the Lekki deep sea port in Lagos.

Lekki Port, a multi-purpose, Deep Sea Port at the heart of the Lagos Free Trade Zone, Lekki Port will be one of the most modern ports, supporting the burgeoning trade across Nigeria and the entire West African region, and providing the connection to the global shipping network.

The Acting Director General of the Infrastructure Concession Regulatory Commission ICRC, Chidi Izuwah, made this known at the end of a closed door meeting he had with the promoters of the port.

Izuwah and his team who were on an inspection tour of Lekki Deep sea port also said that aside from the 361 billion Dollars, both the state and federal government agencies would also earn about 201 billion dollars from taxes, royalties and duties from activities in the port.

He added that operation at the Lekki free trade zone would create over 170,000 jobs directly and indirectly from port operations.

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