In a significant development last week, the Federal Government has granted port status to Niger-Dock and Snake Island Integrated Free Zone, coinciding with the commencement of the expansion of Snake Island Port.
Snake Island Port, a multipurpose port facility spread across 85 hectares and comprising three terminals within Snake Island Integrated Free Zone, has received official approval on May 17, 2023, from the Federal Executive Council (FEC).
The FEC oversees the implementation of major infrastructure projects nationwide.
Expressing his thoughts on the matter, Maher Jarmakani, Chairman and CEO of Niger-dock, highlighted the positive implications of this approval.
Jarmakani stated that it would contribute to job creation and the development of critical infrastructure essential for the nation’s growth.
Jarmakani further commented, “We deeply appreciate the support shown by the Federal Government, which has facilitated the expansion of our operations, elevating our contribution to Nigeria’s economy and aligning with our long-term vision of being a globally recognized maritime operator. This Public-Private Partnership will also foster job creation and the development of vital infrastructure necessary for the country’s progress.”
Niger-Dock, already engaged in ship repair, logistics, and free zone solutions, had previously obtained approval from the Nigerian Ports Authority (NPA) and Nigeria Customs Service (NCS) for its terminal operations.
Under the newly established 45-year concession agreement between the Federal Government and Snake Island Port, the operational scope will expand, attracting approximately $1 billion in private investment.
