The Infrastructure Concession Regulatory Commission (ICRC), says that the Lekki Deep Sea Port project has reached 81.14 per cent completion and not 96 per cent.
A statement issued by Mr. Manji Yarling, Head, Media and Publicity, on Monday in Abuja, said the clarification was necessary to put the records straight.
Giving a breakdown of the project status, Yarling said that dredging and reclamation was at 90.93 per cent, Quay Walls at 87.3 per cent, Breakwater at 82.74 per cent and Landside Infrastructure at 70 per cent, bringing it to a total of 81.14 per cent.
“As regulators of all concession agreements entered into by the Federal Government of Nigeria, ICRC deems it imperative to clarify this information and present the correct figure.
“The Concessionaire, Lekki Port LFTZ Enterprise Ltd, is working round the clock to ensure the project is completed on schedule.
“The project is expected to be completed in September 2022 and become operational in December.
“On its part, the ICRC will continue to carry out its regulatory function to ensure that this project, like all other government concessions will yield the desired value for money, profitability, efficiency, economic growth, job creation and other gains for which the contract was entered into.”
In an interview with journalists, Mr. Micheal Ohiani, Acting Director-General of ICRC had said the project was 96 per cent completed.
Ohiani said his team had carried out a regulatory visit to the project site in the last quarter of 2021 and was satisfied with the progress of work done so far.
The Lekki Deep Sea Port was conceptualised on the basis of a significant gap in projected demand and capacity.
The project, a 45-year concession by the Nigerian Ports Authority (NPA) was awarded on a Build, Own, Operate and Transfer (BOOT) Public Private Partnership (PPP) model.
Upon completion, it will have a total of three container berths, one dry bulk berth and three liquid berths.
The strategic location, optimised layout and modern facilities provide Lekki Port a distinct competitive edge over any other port facility in the West African region.
The container terminal is expected to have a 1,200 meter long quay, three container berths and a storage yard with more than 15,000 ground slots.
ICRC was established to regulate PPP endeavours of the Federal Government aimed at addressing Nigeria’s physical infrastructure deficit which hampers economic development.