Skip to Content

Nigeria bets on Chinese-funded port to drive economic growth


Associated Press

ABUJA, Nigeria (AP) — Nigeria’s president has marked the opening of a $1.5 billion, Chinese-funded deep seaport in the commercial hub of Lagos that authorities hope will help grow the West African nation’s ailing economy. Lagos Gov. Babajide Sanwo-Olu said Monday that the Lekki Deep Sea Port will be one of the biggest in West Africa and will create hundreds of thousands of jobs in addition to easing cargo congestion that costs billions of dollars in annual revenue. The port will be operated as a joint venture between Nigeria, the state of Lagos, a Singapore-based company and Chinese state-owned company. An analyst says the port has “immense potential” for the economy of Nigeria but that existing challenges must be addressed for that to happen.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press


KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content