TTP are the developers of the proprietary technology, Eto, used for the scheduling and movement of trucks in and out of the Apapa and TinCan Port.

Meanwhile, the CEO in reaction to recent news about the truck traffic brewing in the Lekki-Epe axis reaffirmed that his company is ready to deploy the Eto call-up technology for the Lekki deep sea port.

In his words: “The electronic call-up system has had tremendous success in managing truck traffic in the Apapa and TinCan ports, and we are ready to deploy it at the Lekki Epe port. Our technology, Eto has proven to be effective in easing traffic and promoting efficiency in the movement of cargo in and out of the ports. We are confident that similar success can be replicated in the Lekki Epe axis should the call-up system be introduced.

“We’re in deep engagements with the NPA, LASG and other relevant stakeholders to ensure adequate planning and arrangement are made. As soon as approvals are given, our team is set to deploy the technology immediately. We’re confident that when the electronic call-up system is implemented in the Lekki-Epe axis, the concerns over traffic that residents and businesses are currently expressing will be eradicated to the barest minimum”.

The wholly innovative indigenous company that focuses on transforming Africa’s mobility, haulage and access control challenges through technology, has achieved some milestones at Lagos Port in twenty-four months of its operations.

At its recent anniversary, Onwubuariri said that the TTP’s flagship product, Eto, has successfully reduced traffic around Apapa and Tincan port corridors, resulting in a significant improvement in the average turnaround time for port-bound trucks from an average of 2 weeks to just 3 days.

The leading mobility technology company with profound impact on the logistics and transportation industry has also contributed significantly to a massive reduction in the cost of moving cargo by 65%, providing significant cost savings to businesses and improving the competitiveness of the Nigerian economy.

The brand-new deep-water port that is now being built is called the Lekki Port, situated in Lagos State’s Lekki Free Trade Zone. The port is being built as a component of a bigger initiative to strengthen Nigeria’s economy and infrastructure.

The port will be able to handle huge vessels, and it is anticipated that it will significantly improve trade and commerce in the nation.

Boosting the Economy

The project (Lekki deep-sea port) is anticipated to boost regional economic growth and provide thousands of new jobs.

The port is also anticipated to draw foreign investment and aid in the diversification of the Nigerian economy.

However, because the port will accommodate large vessels and improve the effectiveness of cargo handling, it is also anticipated to expand trade and commerce within the nation.

In terms of how much the port will generate, there have been lots of projections. It is difficult to predict because it will depend on a number of variables, including the volume of trade, the effectiveness of cargo handling, the success of the broader project, etc.

Revenue Projection

The Lekki Port is a major success story for public-private partnerships in infrastructure development in Nigeria, according to the Infrastructure Concession Regulatory Commission (ICRC) of Nigeria, and is anticipated to have a $461 billion economic impact over the course of 45 years.

The Nigerian Government owns 5%, Lagos Government 20% and Lekki Port Investment Holding Inc. owns 75% through the Special Purpose Vehicle (SPV- Lekki Port LFTZ Enterprise Limited).

The economic impact would be revenue from duties, royalties, and taxes of $201 billion and a direct and indirect business impact of $158 billion.

ICRC said it expects over $361bn economic impact expected in 45 years. “ Land Area – 90 Hectares, Concession Term- 45 years, First Deep Sea Port in Nigeria and Deepest Port in West Africa.

“A multipurpose Port which has 3 Container berths, 3 Liquid, and 1 Dry Bulk Berth

“Concession Model: Build, Own, Operate, and Transfer (BOOT). Economic Impact and Project Cost: They added the project had a cost of $1.5 billion in assets and $800 million on construction in all phases.

“$361 billion (Revenue from duties, royalties, taxes $201bn, Direct/Indirect business impact: $158bn).”