How Lekki corridor is boosting Nigeria’s blue economy

Lagos, Nigeria - The Lekki corridor is making significant waves in Nigeria's blue economy with the recent introduction of Cosco Shipping, Ocean Network Express, and ZIM Integrated Shipping Services at the Lagos Free Zone. Adesuwa Ladoja, the dynamic CEO of the Lagos Free Zone, shared insights on the impact of these new service verticals during a recent interview with CNBC Africa. The expansion of shipping lines calling at Lekki Port from just CMA CGM to now include Costco, One, and Zim marks a pivotal moment for trade facilitation in Nigeria. These developments allow larger vessels to navigate the trade corridors more efficiently, leveraging state-of-the-art equipment at the port. Ladoja emphasized that this is a game-changer for Nigeria, positioning Lekki Port as a dominant force in handling major vessels and boosting trade volumes. Since the launch of Lekki Port in April 2023, significant progress has been noted in operations and efficiency. The port's strategic location within the Lagos Free Zone has enabled infrastructural development, fostering partnerships with regulatory agencies to ensure operational excellence. With cutting-edge equipment like the Nutex scanner and advanced cranes, the port is streamlining container processing and enhancing customer experiences. Ladoja highlighted the advantages of operating within the Free Zone, enabling enterprises to seamlessly import raw materials and export finished goods to global markets. The implementation of the e-call-up system is also contributing to congestion management, with early signs of improved efficiency and traffic flow. In addition to operational enhancements, Ladoja stressed the importance of maintaining positive relationships with host communities to mitigate the impact of rapid development and increased traffic in the region. Through community sensitization and collaboration with law enforcement, efforts are being made to ensure the safety and well-being of residents amidst ongoing expansion. Looking ahead, the future of Nigeria's blue economy is poised for growth, as Lekki Port continues to attract global investment and position itself as a key player in the maritime industry. The strategic partnerships and operational advancements set the stage for increased trade volumes, improved efficiency, and sustainable development along the Lekki corridor. As Nigeria navigates towards a brighter economic future, the blue economy stands to benefit from the transformative initiatives unfolding at the Lagos Free Zone and Lekki Port.