Lekki port trans-shipment operations increased over stronger naira, says deputy MD

Daniel Odibe, the deputy managing director of the Lekki deep seaport says its trans-shipment operations have increased substantially due to a stronger naira.

Odibe spoke during an interactive session with journalists in Lagos on Thursday.

He said the port currently receives between 10 to 12 vessels monthly, stressing that its “trans-shipment operations have also increased substantially”.

“Lekki Port is currently doing international transshipment to Togo, Ghana and Abidjan and some landlocked countries. We are picking up because the naira is gradually picking up,” he said.

“Volumes fell because of naira depreciation and removal of subsidy and this caused a setback in our projection.

“As at 2023, when we started operations, we did 54,289 TEUs and as of June of this year, we have done 222,000 and we are projecting 400,000-500,000 TEUs.”

Odibe said the facility is currently operating at only about 20 percent of its projected cargo throughput despite having an installed capacity of 1.2 million twenty-foot equivalent units (TEUs).

He said the shortfall is due to prevailing economic challenges affecting the port’s operations.

Odibe added that vessel turnaround time at the port currently stands at 48 hours, while truck turnaround time is one hour and 25 minutes, while cargo dwell time is 16 days.

Also speaking, Qiang Wang, managing director of Lekki Port, who was represented by Young Xixiong, chief operating officer of the port, said the facility would continue to raise the bar to international standards.

Wang said the port would continue to push the envelope and set the bar higher to uphold its position as West Africa’s deepest seaport.

“The result of our unrelenting commitment for world-class standards is visible in the gigantic footprints we are putting on the map of maritime trade in Africa,” he said.

“This is by deploying technology, driving operational efficiency, and shaping regional trade.

“Also it’s our commitment to the development of our host communities and the well-being of the inhabitants through our corporate social responsibility which goes beyond donations.”

Wang said the port would continue doing the good job that would unlock more opportunities and deeper collaboration for the growth of the maritime sector.