Nigerdock has finalised an agreement with the Nigerian Ports Authority (NPA) to develop and expand the Snake Island Port, a significant maritime infrastructure project located within the Snake Island Integrated Free Zone.
The 85-hectare, multipurpose port facility, comprising three terminals, has been approved by the Federal Executive Council and secured a 45-year concession with an optional extension. The project is expected to attract an estimated $1 billion in foreign direct investment.
Maher Jarmakani, Nigerdock’s Chairman and CEO, highlighted the strategic importance of the project. “This collaboration will enhance Nigeria’s position in international trade,” he said, emphasising the company’s commitment to regulatory compliance and working closely with key stakeholders.
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NPA Managing Director Dr. Abubakar Dantsoho described the agreement as part of the government’s strategy to improve port capacity and regional competitiveness. He stressed the importance of partnerships with private-sector players like Nigerdock.
“We are always looking for opportunities to invest and expand our country’s ports’ capacity,” he said. “This agreement indicates the government’s desire to scale our regional competitiveness with other global players in the sector. By promoting a policy of openness, transparency, and capacity building, the NPA is working together with key private sector players, such as Nigerdock, to derive value on investments.”
The project builds on Nigerdock’s long-standing maritime infrastructure development. The company was awarded Free Zone and Port Status in 2005 and received approvals for direct shipping and cargo handling operations in subsequent years.
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