The Chairman and CEO of Nigerdock, Maher Jarmakani, has announced that the new 45-year concession agreement for Snake Island Port with the Federal Government could attract about $1bn in private investment and allow for expanded operational scope.
Nigerdock and Snake Island Integrated Free Zone have reportedly received approval from the Federal Government for the commencement and expansion of Snake Island Port, which is expected to be a critical infrastructure vital for the nation’s growth.
The Nigerdock port facility is a multipurpose facility that sits on 85 hectares, comprising three terminals located within SIIFZ. In addition to its operations in ship repair, logistics, and free zone solutions, Nigerdock has been in terminal operations following approval from the Nigerian Ports Authority and Nigeria Customs Service.
Jarmakani expressed his immense gratitude to the Federal Government for its support in enabling the expansion of its operations, which would increase its value-add to Nigeria’s economy and lead to the actualisation of its long-term vision as a globally recognised maritime operator. The CEO also believes that the Public Private Partnership with the Government will facilitate job creation and develop critical infrastructure required for the nation’s growth.
The new concession agreement for Snake Island Port with the Federal Government paves the way for an expanded operational scope and considerable private investments, which is expected to boost employment opportunities and further economic development in Nigeria.
