Nigeria has taken a significant step towards advancing its green port development with the finalization of a $1 billion agreement between Nigerdock and the Nigerian Ports Authority (NPA) for the development of Snake Island Port ¹.
Located within the Snake Island Integrated Free Zone, the new facility will span 85 hectares and feature a multipurpose port with three terminals.
The project, approved by the Federal Executive Council (FEC) in 2023, aims to drive major infrastructure development nationwide.
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The concession for the port is set for 45 years, with an option for extension. Nigerdock Chairman, Maher Jarmakani, hailed the project as a groundbreaking collaboration between the Federal Government of Nigeria and Nigerdock, expected to attract $1 billion in foreign direct investment and bolster Nigeria’s role in international trade.
According to Jarmakani, “Snake Island Port will stimulate maritime industry growth and unlock new opportunities in Nigeria’s blue economy.” The NPA Managing Director, Dr. Abubakar Dantsoho, echoed this sentiment, stating that the agreement reflects the government’s ambition to enhance regional competitiveness in the global maritime sector through policies promoting openness, transparency, and capacity building.
Notably, Nigerdock was granted Free Zone and Port Status by the Presidency in 2005, paving the way for the establishment of the Snake Island Integrated Free Zone. The facility has since received approvals for direct shipping from the NPA and Nigeria Customs Service in 2017, and cargo handling operations from the NPA in 2021.