Huge Economic Boost Expected as Lekki Port Phase 2 Construction Set to Begin

Speaking at the Invest Lagos Summit 3.0 held in Lagos earlier in this week, Sanwo-Olu highlighted the State’s commitment to expanding critical infrastructure and attracting investment.

He explained that the expansion of the Port will significantly enhance cargo handling capacity, strengthen maritime trade, and deepen Lagos’ role as a gateway to the African Continental Free Trade Area (AfCFTA) market of over 1.4 billion people.

He stated: “With AfCFTA creating a market of over 1.4 billion people and a combined GDP exceeding $3 trillion, Lagos occupies a uniquely strategic position.

“The Lekki Deep Sea Port, within five years, is moving to phase two because it is almost reaching the full potential of its installed capacity. And just within five years, it is moving to phase two. These are not just aspirations but projects that have been implemented and are under implementation. They have been funded, progressing, and transforming the investment landscape of our State”.

In his remark, the Managing Director, Lekki Port, Wang Qiang, commended the Lagos State Government for maintaining a stable and investment-friendly environment.

He noted that the next phase of development will play a key role in expanding the port’s operational and cargo-handling capacity, improving logistics efficiency along the Lekki corridor, and attracting additional global shipping and logistics investments.

Qiang noted that the expansion aligns with Nigeria’s broader trade facilitation agenda and the increasing demands of regional and international shipping networks.

He stated: “We are deeply encouraged by the continued support of the Lagos State Government, whose infrastructure-led policies have created a stable and forward-looking environment for long-term maritime investment.

“The commencement of the next phase of development represents a significant milestone in our journey to expand capacity, enhance operational efficiency, and strengthen Lekki Port’s position as a premier gateway for West African trade under the AfCFTA framework.”