NPA grants a 45-year concession to Snake Island Port

The Nigerian Ports Authority (NPA) has approved the development of Snake Island Port by Nigerdock on an initial 45-year concession period.

Snake Island Port is a multipurpose facility comprising three terminals within Snake Island Integrated Free Zone and built on an 85-hectare.

The Federal Executive Council (FEC), which oversees the implementation of major infrastructure projects across the country, granted approval for the project in 2023.
Maher Jarmakani, chairman/CEO of Nigerdock described Snake Island Port as a landmark collaboration between the Federal Government of Nigeria and Nigerdock, estimated to bring in $1 billion in foreign direct investment and further enhance Nigeria’s position in international trade.

“We have taken proactive steps to ensure appropriate regulatory compliance following the government’s approval of Snake Island Port. This agreement positions Snake Island Port within the Lagos Port ecosystem, and by working closely with the NPA, the Ministry of Marine and Blue Economy, and other key stakeholders, we will spur growth in the maritime industry and unlock new opportunities in Nigeria’s blue economy,” Jarmakani said.

Speaking on the signing, Abubakar Dantsoho, managing director of the Nigerian Ports Authority (NPA), said the Ports Authority is always looking for opportunities to invest and expand the country’s ports’ capacity.

“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 with key private sector players, such as Nigerdock, to derive value on investments,” he explained.

In 2005, Nigerdock was awarded Free Zone and Port Status by the Presidency leading to the establishment of Snake Island Integrated Free Zone.

‘The NPA and the Nigeria Customs Service also approved direct shipping for the facility in 2017, with the NPA green-lighting cargo handling operations in 2021.