KEY POINTS
- LFT, Lekki Port, and Lagos Free Zone begin shipping alliance with COSCO, ONE, and ZIM to boost Nigeria’s maritime industry.
- The alliance will increase Nigeria’s international trade capacity and attract a huge inflow of foreign direct investment into the Lagos Free Zone.
- The arrival of the COSCO vessel E. A. Centaurus, heralds the start on bi-weekly shipping services and enhanced trade efficiency for Nigerian businesses.
In a major boost to Nigeria’s maritime industry, the management of Lekki Port (LFTZ) Enterprise Limited (LPLEL), Lekki Freeport Terminal (LFT) and the Lagos Free Zone have inaugurated shipping alliance with COSCO, Ocean Network Express (ONE) and ZIM.
The Lekki Port alliance is one that looks to strengthen the nation’s international trade capabilities and turn Lekki to a leading maritime hub for West Africa.
E. A. centaurus milestone arrived
Furthermore the event was graced by the arrival of the E. A Centaurus, a COSCO vessel described as the biggest ever to berthen a Nigerian port.
The ship has a length of 277m, and can carry 7,000 TEUs (Twenty foot Equivalent Units), marking a new era in the country’s opportunities for global trade. The bi weekly services by consortium COSCO, ONE and ZIM commences with ship docking at Lekki Port.
Increase in international presence
The shipping alliance was deemed to be of strategic importance by Christophe Cassang, the CEO of the Lekki Freeport Terminal. According to him, the partnership with leading global shipping lines COSCO, ONE, and ZIM paves the way for Lekki Port to ramp up capacity and boost Nigeria’s footprint in global trade.
These alliances are helping us to increase not only our shipping capacity, but also the scope of trade and industry in Nigeria and West Africa. “We want to be a premier maritime hub with advanced infrastructure and also technology to complement our efforts to develop cluster activities,” added Cassang.
Nigeria’s maritime sector records transformative milestone
Lekki Port Managing Director Du Ruogang said that he was confident that this alliance holds the potential of being a catalyst to change Nigeria’s maritime industry.
Through partnership with global shipping companies, the port has continued the country’s growth in the international shipping sector, where we now handled increased cargo volumes.
This milestone is a bold statement about our commitment to making Nigeria’s maritime become one worthy of building the future of Nigeria.”
On his part, Ruogang said: ‘The start of bi-weekly calls from the COSCO, ONE, and ZIM consortium are punctuating the arrival of the E. A. Centaurus, which is signalling more goods and also businesses flowing into Nigeria.’
Regional economic growth and foreign direct investment
The shipping alliance would also bring economic benefits to the region, Adesuwa Ladoja, CEO of Lagos Free Zone, told Thomson Reuters Foundation.
The establishment of the Lagos Free Zone has already impacted the region’s economic revitalization since four major global shipping lines have since started operating in Lekki Port.
Customers will have a range of options to choose from and access to world class shipping service delivery that will be beneficial to both businesses in the Free Zone and beyond.
In addition, ‘Ladoja said it would help the import of raw materials and the export of finished goods, and would help to revitalise the entire Lekki region economically.’
