Maersk to inject US$ 600 million into Nigeria’s port infrastructure
NewsMaersk to invest $600 million into Nigeria’s seaport infrastructure to support port modernisation.
Nigerian Ports Authority readies massive investment plan
The Nigerian Ports Authority to invest USD 1 billion in revitalizing crucial port complexes.
The Nigerian Ports Authority (NPA) has revealed a USD 1 billion reconstruction plan for crucial port complexes, including Tincan Island, Apapa, Rivers, Onne, Warri, and Calabar.
Additionally, funds have been allocated for the revitalization of ports such as Badagry Deep Seaport, Snake Island, Burutu, and Ondo Deep Seaports under a new port development plan.
This initiative was outlined in the document titled ‘Consolidation of Superior Performance at the Nigerian Ports Authority 2023’, as reported by local media outlets.
Furthermore, the NPA aims to enhance the competitiveness of Nigerian ports through the implementation of the Port Community System (PCS) and National Single Window.
The NPA said that in 2023 the port surpassed its performance in 2022 despite global economic challenges.
The Nigerian Ports Authority experienced a growth in revenues, with the figures increasing from N361 billion (USD 226 million) in 2022 to N501 billion as of December 2023.