{"id":64216,"date":"2022-05-04T16:53:35","date_gmt":"2022-05-04T15:53:35","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport"},"modified":"2022-05-04T18:01:48","modified_gmt":"2022-05-04T17:01:48","slug":"buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport","title":{"rendered":"Buhari govt targets $201bn in taxes, royalties from Lekki deep seaport"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Nigerian government is targeting at least $201 billion in earnings through taxes, royalties and duties from the Lekki Deep Sea Port.<\/p>\n

The port project is expected to be completed in September 2022, as revealed by Lai Mohammed, Minister of Information and Culture on Wednesday.<\/p>\n

The Minister dropped the hint Wednesday while fielding questions from journalists after the conclusion of a tour of the Lekki Deep Sea Port at the Lagos Free Zone, located some 65 kilometres east of Lagos.<\/p>\n

He said the facility has again repositioned Nigeria for regaining the maritime business that was lost to ports in Togo, Cote d\u2019Ivoire and Ghana, stressing that it is also a big boost to Nigeria in its quest to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA).<\/p>\n

\u201cI call it a game-changer because of the impact it will have on the nation\u2019s economy and the jobs it will create, among others.<\/p>\n

\u201cThe investment is huge: 1.53 billion dollars on fixed assets and 800 million dollars on construction. But the aggregate impact has been put at 361 billion dollars in 45 years, which will be over 200 times the cost of building it. In addition, it will create 169,972 jobs and bring revenues totalling 201 billion dollars to state and federal governments through taxes, royalties and duties, the Minister said.<\/p>\n

\u201cThe direct and induced business revenue impact is estimated at 158 billion dollars, in addition to a qualitative impact on manufacturing, trade and commercial services sector<\/p>\n

\u201cBeyond that, when it begins operation in the last quarter of this year, it will make it possible for Nigeria to regain the maritime business that was lost to ports in Togo, Cote d\u2019Ivoire and Ghana. It is also a big boost to Nigeria in its quest to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA)\u201d he said.<\/p>\n

Mohammed pointed out that the major advantage Nigeria has to leverage is transhipment, stressing that with the port, the country will become a transhipment hub and the revenue it is currently losing to neighbouring countries will be earned.<\/p>\n

The Lekki Deep Sea Port is a consortium that includes China Harbour Engineering Company, Tolaram, Lagos State Government, Nigerian Ports Authority and Lekki Port Investment Holding Inc.<\/p>\n

The Port is a Build, Own, Operate and Transfer concern, and is supposedly the deepest seaport in West Africa, covering a land area of 90 hectares with a concession period of 45 years.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Nigerian government is targeting at least $201 billion in earnings through taxes, royalties and duties from the Lekki Deep Sea Port. The port project is expected to be completed in September 2022, as revealed by Lai Mohammed, Minister of Information and Culture on Wednesday. The Minister dropped the hint Wednesday while […]<\/p>\n","protected":false},"author":84,"featured_media":64215,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,29,28,14,26],"tags":[1570,2140,97,1554,254],"class_list":["post-64216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-buhari","tag-lekki","tag-nigeria"],"yoast_head":"\nBuhari govt targets $201bn in taxes, royalties from Lekki deep seaport - Nigeria<\/title>\n<meta name=\"description\" content=\"The Nigerian government is targeting at least $201 billion in earnings through taxes, royalties and duties from the Lekk ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buhari govt targets $201bn in taxes, royalties from Lekki deep seaport\" \/>\n<meta property=\"og:description\" content=\"The Nigerian government is targeting at least $201 billion in earnings through taxes, royalties and duties from the Lekk ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-04T15:53:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-04T17:01:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/05\/postQueueImg_11-6272b163d747f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Buhari govt targets $201bn in taxes, royalties from Lekki deep seaport\",\"datePublished\":\"2022-05-04T15:53:35+00:00\",\"dateModified\":\"2022-05-04T17:01:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport\"},\"wordCount\":423,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/05\/postQueueImg_11-6272b163d747f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Buhari\",\"Lekki\",\"Nigeria\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"Policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/buhari-govt-targets-201bn-in-taxes-royalties-from-lekki-deep-seaport\",\"name\":\"Buhari govt targets $201bn in taxes, royalties from Lekki deep seaport - 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