In a significant step towards advancing green port development in Nigeria, Nigerdock and the Nigerian Ports Authority (NPA) have finalized an agreement for the $1 billion development of Snake Island Port. The new facility will be situated on an 85-hectare site within the Snake Island Integrated Free Zone and will include a multipurpose port with three terminals.
The Federal Executive Council (FEC) approved the project in 2023, with the aim of driving extensive infrastructure development across the country. The concession for the port will last for 45 years, with an option for extension.
Maher Jarmakani, Chairman of Nigerdock, described the port as a groundbreaking collaboration between the Federal Government of Nigeria and Nigerdock. He said, “Snake Island Port is a landmark project that will attract an estimated $1 billion in foreign direct investment and strengthen Nigeria’s role in international trade. After government approval, we ensured regulatory compliance to integrate Snake Island Port into the Lagos Port ecosystem. By collaborating with the NPA, the Ministry of Marine and Blue Economy, and other stakeholders, this project will foster growth in the maritime industry and unlock new opportunities in Nigeria’s blue economy.”
At the signing ceremony, NPA Managing Director Abubakar Dantsoho reiterated the agency’s commitment to expanding Nigeria’s port capacity. He said, “This agreement reflects the government’s ambition to enhance regional competitiveness in the global maritime sector. Through policies that promote openness, transparency, and capacity building, the NPA is partnering with private sector players like Nigerdock to deliver value-driven investments.”
Nigerdock was granted Free Zone and Port Status by the Presidency in 2005, which led to the establishment of the Snake Island Integrated Free Zone. In 2017, the NPA and the Nigeria Customs Service approved direct shipping to the facility, and in 2021, the NPA authorized cargo handling operations.
