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Update : All set as Buhari inaugurates $1.5 billion Lekki Deep Seaport, first in Nigeria
…..It ‘ll improve Nigeria port industry, promote int’l trade – CHEC Chairman
President Muhammadu Buhari will any moment officially commission the $1.5 billion Lekki Deep Seaport, first in Nigeria
As at 1.40 pm, dignitaries, including diplomatic corps have stormed the Lekki Deep Sea Port, venue of the commissioning awaiting President Buhari who is also billed to commission other iconic projects in Lagos.
Among the dignitaries in attendance include: Minister of Information and Culture, Lai Muhammed, Managing Director, MD, of Nigerian Ports Authority, NPA Mohammed Bello Koko, DirectorcGeneral DG, NIMASA, Bashir Jamoh and Executive Secretary, Nigerian Shippers Council, Emmanuel Jime, among others.
By its size and depth, the Lekki Deep Seaport is expected to be the game changer in West and Central Africa.
Other projects slated for commissioning are the 18.75km six-lane rigid-pavement Eleko Junction to Epe Expressway; the John Randle Centre for Yoruba Culture and History; and the MRS Lubricant Factory in Apapa
Buhari, on arrival with the Lagos State Governor, Bababjide Sanwo-Olu, will be conducted round the port’s 1.5km long main.
The seaport’s spanning over 600 meters, is enough for a vessel of up to 16,000 standard containers (TEU). The approach channel is 11 km long.
The Lekki Deep Seaport made history last year as it received the first-ever vessel (Zhen Hua 28) to berth at the port.
The port has three terminals: the container terminal, the liquid terminal, and the dry bulk terminal.
According to the promoters, the container terminal has an initial draft of 14 metres, with the potential for further dredging to 16.5 metres. The terminal is able to handle 2.5 million 20-foot standard containers per year.
The deep-sea port of Lekki is the first port in Nigeria with ship-to-shore cranes. It has three of these container gantry cranes; they belong to the “Super-post-Panamax” group – this means that they can reach and unload the rearmost row of containers even if the container ship is wider than the Panama Canal (49m or 160ft maximum boat beam).
The STS cranes have a fixed rail at the quayside. They can lift 65 tons in twin-lift mode, 50 tons in single-lift mode or 85 tons under a hook.
The port’s computerised system will allow container identification and clearance from the office, and human interaction will be minimal in the physical operations
When phase 2 is completed, the deep sea port will have three liquid berths. The liquid cargo terminal will handle vessels up to 45,000 DWT (dead weight tonnage) and can expand to reach a capacity of 160,000 DWT.
Liquids (like petrol or diesel) will be handled at a tank farm near the port. The docking area is equipped with loading arms. It is also connected by pipelines along the breakwater.
The bulk terminal with an available quay length of 300m can accommodate a Panamax class vessel (75,000 DWT).
Goodwill messages
Meanwhile, Chairman of China Harbour Engineering Company, CHEC, the project construction company,Tang Qiaoliang, said that the completion and commencement of operation of Lekki Deep Sea Port will improve the Nigerian port industry, easing the burden of cargo shipment flow, creating employments, and ultimately promote international trade in the nation.
Qiaoliang stated this at the official commissioning.
The CHEC Chairman explained that Lekki Port is the first deep sea port in Nigeria, a major trade hub in West Africa.
According to him, “Lekki Port is the first deep sea port in Nigeria, a major trade hub in West Africa. It will improve the Nigerian port industry, easing the burden of cargo shipment flow, creating employments, and ultimately promote international trade in the nation.
“As an international top-tier engineering contractor, investment operator, urban developer and ecological manager, CHEC insists to its philosophy ‘value-orientation’, commits itself to upgrading of ‘platform plus industrial leading’strategy.
“With such strategy, we see the opportunity in Nigeria, and believe in its potential.
“So we committed the adequate financial investments and essential technology, together with Nigerians in the construction and operation of the Port.
“Under the framework of the China Africa Forum and the Belt and Road Initiative, we look forward to establishing long-term strategic partnerships, in the infrastructure sector with the Federal Government of Nigeria.
“This will ultimately deepen the relations and cooperation between Nigeria and China, better serving the Nigerian people and its economy,” he noted.
Similarly, Chairman Tolaram, Mohan Vaswani in his goodwill message, commended both the State and Federal Government for their Corporation and dedication to the çompletion of the project.
Vaswani thanked President Mohammadu Buhari for “for creating an enabling environment for foreign investors to flourish in Nigeria.
“I must thank everyone who has been with us through thick and thin, Jending their support and encouraging us to make sure we deliver on this project. This kept us going even when it seemed there was no hope.
“Lagos State Government since the time of my good friend and brother, Asiwaju Bola Ahmed Tinubu’s government, through successive administrations up till the dynamic and hardworking Governor, Babajide Sanwo-Olu, has been with us forging a path together on this iconic project.
“At the Federal level and the parastatals, we have enjoyed strong cooperation from everyone.
“I also celebrate our partner, China Harbour Engineering Company for committing resources to the project which was a turning point for the project,” he noted.
Chairman Tolaram, Mr. Mohan Vaswani, in his address, said, “This Port being completed and commissioned is an important milestone for Tolaram and Nigeria and we are proud of our humble efforts to develop a world-class port in Nigeria.
“This significant milestone will definitely increase the economic well-being of Nigeria and its people and that is the mostimportantthing.
“This journey started in 2003 or so, when President Olusegun Obasanjo gave the approval for the port project to be developed. The journey has been challenging with so many hurdies but with God on our side, and the support of the President Buhari administration we have persevered and today we all have something to be proud of.
“Thank you Mr. President for creating an enabling environment for foreign investors to flourish in Nigeria. I must thank everyone who has been with us through thick and thin, lending their support and encouraging us to make sure we deliver on this project. This kept us going even when it seemed there was no hope.
“Lagos State Government since the time of my good friend and brother, Asiwaju Bola Ahmed Tinubu’s government, through successive administrations up till the dynamic and hardworking Mr. Governor, Babajide Sanwo-Olu, has been with us forging a path together on this iconic project.”
Chairman Lekki Deep Sea Port
The chairman of Lekki Port, Mr Biodun Dabiri, had earlier said: “From what I can see, in the next four to five years, the economy of the Lekki environs would be worth $25 billion which translates to N10 trillion – an investment amount almost similar to the whole budget of Nigeria.
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“I can tell you that if we focus on this axis alone, the ranking of Lagos as one of the largest economies in Africa would be better; we could move from the 4th to 3rd, 2nd and eventually Number 1.”
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Opeifa Defends Rail Reforms, Unveils Nationwide Expansion Roadmap
Opeifa maintained that derailments are not peculiar to Nigeria, noting that such incidents occur across advanced rail systems globally.
“Derailments are regular occurrences in the rail sector worldwide. In February alone, there were incidents in countries like Britain and others. Around the same time we experienced one, there were multiple derailments across the world,” he said.
He disclosed that in 2025, Nigeria recorded three major derailments:
• August 26 at Asham in Kaduna State
• November 1 at Abraka on the Warri–Itakpe line
• November 8 at Agbor on the same corridor
He said the NRC responded swiftly, restoring services within 24 hours in one case, while others were resolved within 21 and 28 days respectively.
Opeifa stressed that derailments can result from factors such as weather conditions, signal glitches, human error, speeding, or aging infrastructure, but noted that in Nigeria’s recent cases, there were no fatalities.
“These incidents are preventable and efforts are ongoing to minimize them. However, they should not be seen as major setbacks to the overall progress of the railway system,” he said.
On Allegations of Mismanagement
Addressing allegations of financial mismanagement within the corporation, Opeifa declined detailed comments, citing ongoing legal processes.
“When a matter is in court, it is sub judice. Allegations of corruption or mismanagement should be handled by the appropriate authorities,” he stated.
He reiterated that his priority is to reposition the NRC in line with global best practices and ensure efficient rail services for Nigerians.
Expansion, Upgrades and National Connectivity
The NRC boss said efforts are underway to restore damaged coaches and upgrade infrastructure using local engineers and technicians.
“We are bringing back the lines and retrofitting coaches. The Warri–Itakpe line is operational. The Abuja–Kaduna line is running, and we are increasing trips from two to three,” he said.
On long-term plans, Opeifa disclosed that the NRC roadmap envisions rail connectivity across major cities nationwide, subject to funding and phased execution.
He dismissed claims of abandoned projects, explaining that rail developments are capital-intensive and implemented in phases based on available resources.
He cited progress on the Lagos–Ibadan corridor—part of the larger Lagos–Kano project—as well as ongoing work on the Kano–Maradi line linking key northern cities.
Lagos–South-East, Port Connections in View
Opeifa also highlighted plans to expand connectivity between southern ports and inland cities. These include proposed links from Warri to Abuja and from Lekki Deep Sea Port to Kajola, Benin, Onitsha, and Aba, enabling both passenger and cargo movement.
Toward Modern Signaling and Faster Trains
On modernization, he said Nigeria is gradually upgrading from older narrow-gauge systems to standard-gauge infrastructure with improved signaling technology.
He noted that metro rail projects in Kaduna, Kano, and Lagos are being developed with higher signaling standards, positioning the country for faster and more efficient train services in the coming years.
“We are not yet at the highest global level, but we are moving steadily upward,” Opeifa said.
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Ticket Reform Boosts Confidence in Lagos–Ibadan Rail Service, Says Opeifa
A quiet transformation is reshaping the daily commute between Nigeria’s commercial hub and the historic city of Ibadan. Passengers on the Lagos–Ibadan standard gauge corridor say services have become more efficient and predictable following a clampdown on ticket racketeering led by Kayode Opeifa
The renewed confidence in the rail line linking Lagos and is influencing residential and employment decisions among middle-income earners who once considered daily intercity commuting unrealistic.
“It is now possible to live in Ibadan and work in Lagos without the daily anxiety of securing a ticket,” said Adewale Bamidele, a financial analyst who travels three times a week. “Before, you needed connections. Now, you book, you board, you arrive.”
A Line Once Hindered by Middlemen
The Lagos–Ibadan railway, inaugurated as a flagship infrastructure project under the administration of former President Buhari was designed to ease pressure on the congested Lagos–Ibadan Expressway and deepen economic integration across the South-West.
However, in its early phases, passengers frequently complained of informal ticket rackets. Allegations included bulk-buying by intermediaries and artificial scarcity that forced travellers to pay inflated prices for seats on high-demand trains.
Industry observers say such practices undermined the railway’s credibility as a mass transit solution. “Transport systems thrive on predictability and fairness,” said a transport economist “Once access is perceived as compromised, commuters revert to road transport despite the risks and delays.”
Enforcement and Digitisation
Since assuming oversight responsibilities within the sector, Opeifa has reportedly intensified internal monitoring and strengthened digital ticketing protocols. Railway officials, speaking on condition of anonymity, said stricter verification processes and disciplinary measures against errant staff have curtailed unauthorised ticket sales.
Although the Nigerian Railway Corporation has not released detailed enforcement data, anecdotal evidence from regular commuters points to shorter queues, smoother boarding procedures and fewer last-minute cancellations.
For professionals with flexible work schedules, the improvement has been significant. The average journey time of about two to three hours—depending on the service type—now compares favourably with unpredictable road travel, which can take considerably longer during peak traffic.
Changing Urban Dynamics
Property agents in Ibadan report a modest rise in enquiries from Lagos-based workers seeking more affordable housing. Rents in many parts of Ibadan remain significantly lower than comparable neighbourhoods in Lagos, offering relief to households grappling with inflationary pressures.
“Rail reliability changes everything,” said Funke Adebayo, a real estate consultant in Ibadan. “When people trust the timetable, they are more willing to relocate.”
Economists caution, however, that long-term success will depend on consistent maintenance, adequate security along the corridor and transparent ticketing systems. Any return to informal practices could quickly erode recent gains.
The Lagos–Ibadan corridor is widely regarded as a litmus test for Nigeria’s broader rail ambitions. With additional standard gauge projects planned or underway nationwide, policymakers face mounting pressure to ensure that infrastructure investments translate into reliable public service delivery.
For now, passengers remain cautiously optimistic.
“It feels more organised,” Bamidele said while disembarking at Mobolaji Johnson Station in Lagos. “If this standard is sustained, rail can genuinely compete with road transport.”
Nigeria agree, the real challenge lies not just in laying tracks, but in sustaining public trust.
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Breaking : Finance Ministry Shake-Up: Tinubu Nominates Oyedele, Says Onanuga
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President Bola Tinubu has nominated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, as the Minister of State for Finance.
Oyedele replaces Dr. Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration.
The President on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, on Tuesday.
Until Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.
The 50-year-old is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system through the Presidential Committee on Fiscal Policy and Tax Reforms.
The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes and introduced significant reforms, including zero income tax for Nigerians earning N800,000 annually or less.
The Tax Reform Acts, which became effective on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.
Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.
Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.
He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.
He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.
As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.
Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.
The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.
The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.
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