The development of Lekki Deep Sea Port has been conceptualized on the basis of a significant gap in projected demand and capacity. Market studies indicate that the demand for containers is expected to grow at a CAGR of 12.9% up to 2025. However, given the expansion constraints on the existing infrastructure, the capacity in Lagos is incapable to meet the growing demand. The capacity shortfall for container terminal facilities in Lagos is projected to be 0.8 million TEUs in 2016 going up to 5.5 million TEUs in 2025. The strategic location, optimized layout and modern facilities provide Lekki Port a distinct competitive edge over any other port facility in the West African region.
Description of asset
The port when completed will feature three operational sub-concessions of Container Terminal, Liquid Terminal and Dry Bulk Terminal
Container Terminal: which will have a 1,200m long quay, 3 container berths and a storage yard with over 15,000 ground slots. The general arrangement of the container storage and handling area shall consist of a stacked container arrangement. The terminal is designed to support a throughput of 2.5 million TEUs annually
Liquid Terminal : The Liquid Berth planned for Lekki Deep Sea Port will be capable of servicing vessels up to the size of 45,000 DWT initially, with design flexibility for expansions, catering to an increase to a capacity of 160,000 DWT. Liquids like finished products (petrol, diesel) could be handled with storage in tank farm also located in the Lagos Free Trade Zone close to the port site. The berth will be equipped with loading arms and connected by pipelines running along the breakwater to carry cargoes between the tank farm and the vessels.
Dry Bulk Terminal Located on the western side of the container berths, the dry bulk terminal will be situated close to the turning circle. Available quay length of about 300m will be sufficient to accommodate one berth for a Panamax size vessel (75,000 DWT).
The products to be handled as cargo will range from dry to hygroscopic products such as grains, raw sugar and fertilisers. The movement of the bulk cargo to the storage areas like silos and warehouses will be handled by covered conveyor systems, along a corridor of about 25 m. The facility is intended to handle around 4 million mt of dry bulk per year.
Description of services
The port will serve as a modern facility that can handle 1.5 million Twenty-Foot Equivalent Unit (TEU) per year.In order to provide berthing for larger vessels, which is the growing global trend in the transport sector, Lekki Port will be equipped with the best infrastructure and terminal services to attract and maintain large volume shipping line customers. Facilities at the port will include well-designed marine infrastructure, container, dry bulk and liquid terminals, making it a truly multi-purpose port.
Rationale for selection of PPP model
The project is a 45 years concession awarded by the Nigerian Ports Authority, on a Build, Own, Operate and Transfer (BOOT) model.
Further Rationale for the Lekki Port Capacity
1. Container demand growing at 1.9x GDP growth over last 2 decades @ CAGR of 13% +;
2. Lagos accounts for 90% of the container throughput in Nigeria;
3. Capacity constraints at Lagos Port due to:
i. Limitation of Draught, Storage Area and Equipment
ii. Expansion and Road Access limitation
iii. Potential Safety Hazards
4. Lekki Port will help to bridge the projected demand -capacity gap:
i. Accommodate larger vessels
ii. Optimised storage area and ease of expansion
iii. Modern Equipment
iv. Will facilitate relocation of Tank Farms
Information will be published as soon as it is available.
Project Summary document
Concessionaire is making concerted efforts at achieving financial close and fulfilling other conditions precedent.