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Nigeria to Wrest Cargoes from Neighbours, Targets $201bn in Taxes with Lekki Port

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By Derrick Bangura

Nigeria’s Minister of Information, Alhaji Lai Mohammed, has said the Lekki Deep Sea Port when completed would make Nigeria regain the maritime business that it lost to ports in Togo, Cote d’Ivoire and Ghana.

According to the Minister, it would also be a big boost for Nigeria in its quest to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA)
The minister who said this during a tour of the Lekki Deep Sea Port, also estimated that over $201 billion in taxes, royalties and duties would be generated for the Nigerian government when the port commences operations in the fourth quarter of 2022.

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He said the aggregate impact of the Lekki Deep Sea Port put at $361 billion in 45 years would be over 200 times the cost of building the port.

According to him, the deep sea port would be a game changer because of the impact it would have on the nation’s economy when completed.

“The investment is huge – $1.53 billion on fixed assets and $800 million dollars on construction. In addition, it will create 169,972 jobs and bring revenues totalling $201 billion to state and federal governments through taxes, royalties and duties.

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“The direct and induced business revenue impact is estimated at $158 billion in addition to a qualitative impact on manufacturing, trade and commercial services sector,” he added.

Speaking further, the minister said: “The Lekki Deep Sea Port, a build, own, operate and transfer concern, is a massive project, a game changer and a pace setter. It is the deepest sea port in Nigeria and West Africa, and that in itself is a unique advantage.

“A major advantage we have to leverage is transshipment. With this port, Nigeria will become a transshipment hub and the revenue we are currently losing to our neighboring countries will come here and that is big,” he said.

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“As you know, this project is being done in phases. Phase one has reached 89 per cent and will be completed in September this year. The facilities here are first class. We have seven ships to shore cranes and 21 RTG cranes.

“No port in Nigeria currently has this. The excellent equipment is why this port can do 18,000 twenty-foot equivalent unit (teu), which is more than four times the number that can currently be handled by our other ports,” he averred.

Responding, the Managing Director, Lekki Deep Sea Port, Du Ruogang, said the port would change the economic landscape of Nigeria and West Africa at large.

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He said the Lekki port would soon become a central hub for the West African region.

Also, the Executive Secretary, Nigerian Shippers Council, (NSC), Emmanuel Jime, described the port as a game changer for the Nigerian economy, but stressed the need for critical infrastructure to be developed to ease evacuation of cargoes out of the port.

“We need to map out modalities on how we can evacuate cargoes out of the port so that we do not have a replica of Apapa and Tin Can ports,” he said.

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“This visit is the second we are making to this area within a month, coming after our trip to the Dangote Petroleum Refinery and Petrochemicals as well as the Dangote Fertilizer on April 3rd 2022,” he added.

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Tinubu arrives Katsina to receive Buhari’s body for burial

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President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.

The News Agency of Nigeria (NAN) recalls that Vice-President Kashim Shettima departed London in the early hours of Tuesday with the remains of Buhari back to Nigeria.
On arrival at the Umaru Musa Yar’adua Airport Katsina, Tinubu was received by Gov. Dikko Radda,  former Vice-President Yemi Osinbajo, governors, Chairman of Dangote Group, Alhaji Aliko Dangote, Deputy Senate President, Jibrin Barau, and Speaker of the House of Representatives,  Tajudeen Abbas.
Others are Ministers, former governors, former and serving Senators, Alhaji Dahiru Managl,  former Minister of Information and Culture, Lai Mohammed, members of the All Progressives Congress (APC) National Working Committee (NEC), amongst others.
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“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

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Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.

Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.

“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.

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Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.

“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.

Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.

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“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.

Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.

“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.

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On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.

The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.

Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.

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King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

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His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.

In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.

King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”

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He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”

Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”

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