Nigeria Approves $1 Billion for Lagos Ports Upgrade to Boost Efficiency
The Federal Government of Nigeria has sanctioned $1 billion for the modernization of Apapa and Tincan Island seaports in Lagos, the country's primary commercial gateway. The upgrade is part of the 10-year Marine Blue Economy strategy to improve cargo handling, expand capacity, and meet global standards.
The project includes implementing paperless technology, enhancing efficiency, and curbing corruption. Notable entities involved are Gilbert Chagouri, a businessman linked to President Bola Tinubu, and organizations like CILT Nigeria and Afreximbank.
The investment aims to attract private sector participation and drive regulatory reforms for job creation and innovation.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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