Niger Dock gets port status as FG approves 45 yrs concession agreement

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Niger Dock gets port status as FG approves 45 yrs concession agreement

THE Federal Government last week approved the port status of Niger-Dock and Snake Island Integrated Free Zone, this is just as the firm has commenced the expansion of Snake Island Port.

The port, an 85- hectare, multipurpose port facility comprising three terminals located within Snake Island Integrated Free Zone.

The approval was granted on 17th May, 2023 by the Federal Executive Council (FEC), which has oversight on the implementation of major infrastructure projects across the country.

Speaking on the development, Niger-dock Chairman and CEO, Maher Jarmakani, said that the approval will facilitate job creation and develop critical infrastructure vital for the nation’s growth

He said: “We are immensely grateful for the support the Federal Government has shown to enable the expansion of our operations, which increases our value add to Nigeria’s economy and the actualization of our long-term vision as a globally recognized maritime operator.

“This Public Private Partnership with the Government will also facilitate job creation and develop critical infrastructure vital for the nation’s growth.”

In addition to its operations in ship repair, logistics, and free zone solutions, Niger-Dock had already been in terminal operations following approval from the Nigerian Ports Authority (NPA) and Nigeria Customs Service (NCS).

This new 45-year concession agreement for Snake Island Port with the Federal Government now allows for an expanded operational scope and will attract about $1 billion in private investment.