In a significant step toward advancing green port development in Nigeria, Nigerdock and the Nigerian Ports Authority (NPA) have finalized an agreement to develop the $1 billion Snake Island Port. The new facility will be located on an 85-hectare site within the Snake Island Integrated Free Zone and will feature a multipurpose port with three terminals. The Federal Executive Council (FEC) approved the project in 2023, and the concession for the port is set for 45 years with an option for extension.
Maher Jarmakani, the Chairman of Nigerdock, described the Snake Island Port project as a groundbreaking collaboration between the Federal Government and Nigerdock. He emphasized that the project would attract around $1 billion in foreign direct investment, strengthening Nigeria’s role in international trade. The port is expected to drive infrastructure development, stimulate maritime industry growth, and create new opportunities within Nigeria’s blue economy. The project has been carefully aligned with the Lagos Port ecosystem to ensure regulatory compliance.
Dr. Abubakar Dantsoho, Managing Director of the NPA, reiterated the agency’s commitment to expanding Nigeria’s port capacity and enhancing regional competitiveness in the global maritime sector. He highlighted that the NPA’s collaboration with private sector partners like Nigerdock is key to delivering value-driven investments through policies that promote transparency and capacity building. Nigerdock was granted Free Zone and Port Status by the Presidency in 2005, and since then, the port has seen significant milestones, including approvals for direct shipping and cargo handling operations