Connect with us

news

MSC Secures 45-Year Concession to Build Snake Island Container Terminal in Lagos

Published

on

 

The project ends decades search for investors, boosts Nigeria’s blue economy

By Prince Adeyemi Shonibare

Nigeria’s maritime sector is set for a major transformation following a landmark agreement involving the world’s largest container shipping company, Mediterranean Shipping Company (MSC), which has secured a 45-year concession to build, manage and operate a modern container terminal at Snake Island Port in Lagos.

The project, to be developed in partnership with Nigerdock, marks one of the most significant private sector investments in Nigeria’s port infrastructure in recent decades and is expected to strengthen the country’s role as a major maritime gateway in West and Central Africa.

For Nigeria, the agreement brings to close decades of efforts to attract large-scale investors to develop Snake Island Port, a strategically located maritime asset in Lagos.

Long-standing concession history
Snake Island’s maritime facilities date back several decades. In 1992, the Federal Government granted a 99-year concession for the island’s port and industrial facilities to Nigerdock, a major maritime engineering and logistics company.
Nigerdock was later privatised and is currently operated by the Jagal Group owned by Nigerian industrialist Maher Jarmakani.

Over the years, the Island Container Terminal fell into disrepair, requiring major rehabilitation and modernization to meet modern global shipping standards.

The new partnership with MSC is expected to transform the port into a state-of-the-art container handling facility capable of attracting larger vessels and increasing Nigeria’s cargo throughput capacity.
Buhari administration approved the project.

The investment framework for the Snake Island development was approved in May 2023 by the Federal Executive Council under then President Muhammadu Buhari.
The approval authorised total private investment of approximately $974.1 million for the project under a Public-Private Partnership structure, including the 45-year concession period.

At the same time, the Federal Government also approved two other major maritime infrastructure projects:
• Development of the Ondo Multipurpose Port in Ilaje, Ondo State, with $1.48 billion in private investment and a 50-year concession.
• Expansion and development of the Burutu Sea Port in Delta State, involving $1.2 billion in private investment and a 40-year concession.
These projects form part of Nigeria’s broader effort to develop its blue economy and expand maritime trade capacity.

Construction partners
Engineering and construction of the Snake Island container terminal will be handled by:
• ITB Nigeria Limited
• DEME Group
ITB Nigeria Limited is part of the Chagoury Group and owned by the Chagoury family, while DEME Group is a globally recognised Belgian marine engineering and dredging company with extensive experience in port construction.

MSC profile
Founded in 1970 by Italian shipping entrepreneur Gianluigi Aponte and his wife Rafaela Aponte-Diamant, MSC has grown from a single cargo vessel into the largest container shipping company in the world.
Headquartered in Geneva, Switzerland, the company operates in more than 155 countries and serves over 500 ports worldwide, with a fleet of roughly 900 container ships and over 200,000 employees globally.

The MSC Group also operates major logistics and maritime businesses including inland logistics through Medlog, cruise tourism through MSC Cruises, and port terminal operations across several continents.

According to Forbes, the estimated net worth of MSC founder Gianluigi Aponte is about $43.9 billion as of February 2026, placing him among the world’s richest shipping magnates. The company remains privately owned by the Aponte family, with both founders holding equal ownership stakes.
Management comments
Speaking on the development, MSC Group President Diego Aponte said the company is committed to strengthening its operations in Nigeria and across Africa.

“We are proud to expand our presence in Nigeria through this important infrastructure project. The Snake Island terminal will enhance service delivery and improve port efficiency for our customers and partners in the region,”

Chief Executive Officer of Nigerdock, Maher Jarmakani, described the agreement as a major milestone for the Nigerian maritime sector.

“We are delighted to partner with MSC in developing a world-class container terminal that will enhance Nigeria’s logistics capabilities and support economic growth,” he said.

Economic impact
Industry analysts say the project could significantly strengthen Nigeria’s maritime economy by expanding cargo handling capacity, reducing congestion at Lagos ports and attracting additional international shipping traffic.

The development is also expected to create thousands of direct and indirect jobs across maritime operations, logistics, transport services and port-related commercial activities.

Infrastructure expansion
Beyond the port development, plans are also underway for Nigeria’s first underwater tunnel, linking Ahmadu Bello Way in Victoria Island through Snake Island and connecting the Lagos-Calabar Coastal Highway with the Sokoto-Badagry Superhighway corridor through Badagry.

The tunnel project is expected to significantly improve freight movement and road connectivity between Lagos ports and national transport networks.

Strategic milestone
With the entry of MSC into the Snake Island development, industry observers say Nigeria is taking a significant step toward modernizing its maritime infrastructure and positioning itself as a regional hub for global shipping and trade.

For a project that has waited for decades for major international investors, the Snake Island concession represents a turning point in Nigeria’s port development strategy and a strong signal of global confidence in the country’s maritime future.

By Prince Adeyemi Shonibare

Continue Reading
Advertisement

news

Olukare of Ikare, Oba Akadri Momoh, and Council Endorse Balogun ATM for Senate 2027

Published

on

His Royal Majesty, Oba Akadri Momoh, The Olukare of Ikare Land, alongside his Oba-in-Council of chiefs and elders, has endorsed Chief Abdul Tunji Mohammed (ATM), the Balogun of Ikare, for the Ondo North Senatorial seat in 2027.

The endorsement was announced on Monday at the Olukare’s Palace during Chief ATM’s courtesy visit. Oba Akadri Momoh described ATM as “a true son of Ikare” with the character and competence to represent Ondo North. “He respects tradition and has never turned his back on our people. He has our royal blessing,” the Olukare said.

Chiefs present echoed the monarch, citing ATM’s consistent support for education, healthcare, and empowerment in Akoko land as proof of his readiness.

Chief ATM thanked the Olukare and Council for the “sacred mandate,” pledging to make the welfare of Ikare and Ondo North his priority in the Senate. “In Abuja, the voice of Ikare will be loud, clear, and respected,” he said.

*Signed:*
ATM Campaign Media Team

Continue Reading

news

Ondo North Youth Alliance (ONYA) Endorses Chief Abdul Tunji Mohammed (ATM) for Senate, Cites Youth Capacity to Lead

Published

on

The Ondo North Youth Alliance (ONYA), under the leadership of its President, Comrade Ojo Bright Eniafe, has formally endorsed Chief Abdul Tunji Mohammed (ATM) as its consensus candidate for the Ondo North Senatorial District in the 2027 elections.

The endorsement was announced at the Alliance’s expanded executive meeting held in Ikare-Akoko, with youth leaders drawn from all six Local Government Areas of Ondo North in attendance.

Speaking at the event, Comrade Ojo Bright Eniafe declared that the decision was driven by ATM’s clear vision for youth empowerment and economic transformation. “Chief Abdul Tunji Mohammed is not just another politician. He understands that the youth are not leaders of tomorrow – we are leaders today. He has the capacity, the network, and the will to convert our energy into productivity,” Eniafe said.

*Youth Capacity to Lead, Not Just to Clap*

ONYA praised ATM’s blueprint for tackling youth unemployment and rural-urban migration. Central to his agenda is the establishment of *skill acquisition and ICT training centers* across Akoko land, Owo and Ose to equip young people with 21st-century skills in tech, agriculture, fashion, welding, and digital enterprise.

The Alliance also highlighted ATM’s plan to *attract and facilitate factories and agro-processing zones* in Ondo North. “For too long, our brothers from the North have moved to Lagos and other states in search of jobs that don’t exist. With factories here, we keep our youth here. We build our economy here,” Comrade Eniafe stated. “ATM’s background in Finance, Real Estate, and Infrastructure Development gives us confidence that this is not empty talk.”

ONYA further noted that ATM’s track record of quietly supporting student groups, artisans, and young entrepreneurs proves he is youth-friendly and results-oriented. “He doesn’t wait for elections to show up. He has been doing the work,” the President added.

In his response, Chief ATM expressed deep appreciation to ONYA, describing the endorsement as “a call to greater service.” He pledged to sponsor bills and attract federal interventions that will prioritize youth employment, technical education, and industrial growth. “We will build the training centers. We will bring the factories. We will stop the forced migration of our youth. Ondo North will work, and our young people will lead that transformation,” ATM assured.

The Ondo North Youth Alliance called on all youth groups, student unions, and first-time voters across the senatorial district to unite behind ATM, describing him as “the candidate with the brain, the heart, and the blueprint for the youth.”

*Signed:*
Comrade Ojo Bright Eniafe
President, Ondo North Youth Alliance (ONYA)

*For ATM Campaign:*
[08038554184]

Continue Reading

news

Former Ondo Deputy Governor Ali Olanusi Endorses Chief Abdul Tunji Mohammed (ATM) for Ondo North Senate

Published

on

*Akure, Ondo State* — In a major boost to his senatorial ambition, Chief Abdul Tunji Mohammed, popularly known as ATM, has received the endorsement of His Excellency, Alhaji Ali Olanusi, former Deputy Governor of Ondo State.

The elder statesman formally adopted ATM’s bid to represent Ondo North Senatorial District during a courtesy visit to his Akure residence last week. The meeting, described by attendees as “warm and strategic,” saw Olanusi throw his political weight behind ATM ahead of the 2027 general elections.

Alhaji Olanusi is a towering figure in Ondo politics and a respected APC chieftain from Akoko, Ondo North. His political résumé spans decades: former Member of the House of Representatives, former State Chairman of the Peoples Democratic Party (PDP), and former member of the All Progressives Congress (APC) Board of Trustees. His voice carries weight across party lines and within grassroots structures in Ondo North.

Speaking during the visit, Olanusi commended ATM’s character, capacity, and commitment to the people. He also paid glowing tribute to the legacy of ATM’s late father, Alhaji Kunle Abdul, whose philanthropy and community development efforts remain reference points in Akoko land and Ondo State.

“The good work of your late father is still speaking well for you,” Olanusi said. “You have shown the same heart for service. Ondo North needs a Senator who understands the people and has the competence to deliver. I believe you are that person.”

Responding, Chief Abdul Tunji Mohammed expressed gratitude for the endorsement, describing Olanusi as “a father, a leader, and a compass for many of us in Ondo politics.”

“This endorsement is humbling. It strengthens our resolve to offer Ondo North a new model of representation — one that is accessible, developmental, and people-driven,” ATM said. “We will not betray this trust.”

Political observers say Olanusi’s endorsement is significant. As a bridge between the old guard and the new generation, his backing is expected to galvanize support across Akoko, Owo, and Ose — the key blocs in Ondo North.

With endorsements now coming from traditional leaders, youth groups, and elder statesmen, ATM’s senatorial ambition continues to gather momentum as the 2027 political calendar draws closer.

Signed
ATM Media Team

Continue Reading

Cover Of The Week

Trending