Shipping Firm Signs 45-Year Deal With Nigerdock For New Container Terminal

Mediterranean Shipping Company (MSC), the world’s largest container shipping line, has signed a 45-year sub-concession agreement with Nigerdock to develop, operate, and maintain a new container terminal at Snake Island Port (SIP) in Lagos, a move expected to deepen Nigeria’s maritime capacity and attract fresh foreign direct investment into the country’s logistics sector.

The agreement will see the development of an exclusive container terminal covering about 30 hectares within the Snake Island Port complex. According to MSC, the project is scheduled for completion in 2028 and will feature a 910-metre quay, two ship berths, three barge berths, six Ship-to-Shore (STS) cranes, and a channel draft of up to 18 metres to accommodate larger container vessels.

Industry observers say the investment is expected to significantly enhance cargo-handling efficiency, increase port throughput capacity, and strengthen Lagos’ role as a major maritime gateway for Nigeria and the wider West African region.

Commenting on the partnership, Chief Executive Officer of Nigerdock, Maher Jarmakani, described the agreement as a major milestone in the company’s collaboration with MSC and a step toward building a world-class maritime facility in Nigeria.

“We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port,” Jarmakani said.

“This gives the world’s leading shipping line a home in Nigeria and brings significant foreign direct investment into the country to accelerate growth in the maritime and logistics industry.”

He noted that the project would strengthen the port’s infrastructure and create new opportunities across Nigeria’s shipping, logistics, and trade value chains.
Also speaking on the development, MSC President Diego Aponte said the agreement underscores the shipping group’s long-term commitment to expanding its operations and supporting trade growth in Nigeria and across Africa.

“Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa,” Aponte said.

He added that the terminal would open new opportunities for the company’s clients, improve cargo-handling efficiency, and elevate Snake Island Port’s position within the global shipping network.

“The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre,” he said.
“Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”

Snake Island Port is an 85-hectare port facility operated by Nigerdock and located within Lagos Harbour. The port currently comprises three operational terminals and has played a growing role in easing congestion at the Lagos port corridor while supporting Nigeria’s expanding maritime trade.

The planned container terminal is expected to further strengthen the port’s capacity and complement existing infrastructure at Lagos’ main seaports, including Apapa and Tin Can Island, which handle the bulk of the country’s seaborne trade.

With the addition of modern cargo-handling equipment, deeper berths, and dedicated container facilities, stakeholders believe the new terminal will help improve turnaround time for vessels, reduce logistics bottlenecks, and support Nigeria’s ambitions to position itself as a key maritime hub in West Africa.

The project also aligns with broader efforts by private sector operators to invest in port infrastructure and modernise Nigeria’s maritime ecosystem to meet growing demand for international trade and shipping services.