MSC and Nigerdock sign 45-year Lagos port concession
MSC signed a 45-year deal with Nigerdock to develop a terminal at Snake Island Port. The project is part of a 1 billion dollar infrastructure plan for Nigeria.
The global shipping leader MSC, headquartered in Switzerland, has finalized a 45-year concession agreement with the maritime firm Nigerdock to develop and operate a new container terminal at Snake Island Port in Lagos. This initiative is a core component of the company's broader $1 billion commitment to enhancing infrastructure and logistics within Nigeria.
The new terminal is slated for completion by 2028 and will be constructed through a partnership involving ITB Nigeria and the DEME GROUP. Spanning 30 hectares, the facility will feature a 910-meter quay designed to accommodate ship-to-shore cranes and mobile harbor cranes. The infrastructure is intended to support both large deep-sea vessels and smaller barges, providing a versatile solution for regional trade.
This move comes as international shipping firms increasingly seek long-term positions in emerging markets to adapt to shifting global supply chains. Nigeria, recognized as the largest economy in Africa, has long struggled with significant congestion at its primary ports in Lagos. The new development at Snake Island Port aims to alleviate these bottlenecks and improve overall maritime efficiency.
The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping center.
Diego Aponte, the President of MSC, emphasized the strategic importance of the project in modernizing the region's logistics capabilities. Snake Island Port itself is an 85-hectare facility managed by Nigerdock, a maritime and logistics company, and comprises three terminals that serve the wider Lagos port complex.
