Nigeria to Invest £746 Million in Port Rehabilitation

The Nigerian government has announced a £746 million investment to rehabilitate the Apapa and Tin Can ports, aiming to modernize infrastructure and improve operational efficiency. The funding, provided through UK export finance and coordinated by Citibank, is expected to reduce vessel turnaround time and cargo dwell time, aligning with global best practices.

The rehabilitation will involve rebuilding quays, expanding storage capacity, installing modern cargo handling equipment, and upgrading access roads. However, stakeholders have raised concerns about whether upgrading existing ports is the best approach compared to developing newer facilities like the Lekki Deep Seaport.

Duyil, chairman of the Apapa chapter of the National Council of Managing Directors of Licensed Customs Agents, emphasized the need for comprehensive infrastructure improvements, particularly addressing access road issues. The project is projected to significantly enhance port efficiency, reduce logistics costs, and increase government revenue, but its success will depend on broader port logistics reforms.