The Federal Government has announced a $1 billion (₦1.4 trillion) investment plan to modernise the Apapa and Tin Can Island Ports in Lagos, marking one of the largest upgrades in Nigeria’s maritime history.
Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed the plan during the Chartered Institute of Logistics and Transport 2025 National Conference in Lagos.
He said the project is part of a decade-long strategy to position Nigeria as West Africa’s premier maritime hub under President Bola Tinubu’s administration.
According to Oyetola, the comprehensive port upgrade will prioritise infrastructure rehabilitation, technology adoption, and operational efficiency.
The transition to a paperless, digitally managed port system, he explained, will reduce vessel turnaround time, eliminate corruption loopholes, and improve cargo clearance processes.
“This investment marks a new era for Nigeria’s maritime sector. Our ports must reflect efficiency, transparency, and global competitiveness,” he said.
ALSO READ: Nigeria unveils plastic-to-diesel breakthrough
While the total funding has been confirmed, the minister did not disclose whether it would come from government allocations, loans, or public-private partnerships.
However, government sources revealed that a $700 million contract has already been awarded to ITB Nigeria Limited — a firm linked to industrialist Gilbert Chagoury — for major portions of the Lagos ports’ rehabilitation.
The funds are expected to cover berth expansion, dredging, new cargo-handling equipment, and improved road access in the Apapa and Tin Can corridors, long plagued by congestion and poor infrastructure.
Stakeholders in the maritime industry welcomed the move as long overdue, noting that the Lagos ports handle over 70% of Nigeria’s maritime trade.
They expressed optimism that the project could reduce logistics costs, which remain among the highest in the region.
The federal government also plans to extend the modernisation initiative beyond Lagos, with procurement for other port facilities already underway to promote balanced national development.
Experts, however, caution that transparency and accountability will determine the project’s success.
They have urged the ministry to release detailed timelines, contractor lists, and performance benchmarks to ensure credibility.
As Nigeria begins this ambitious modernisation, all eyes are on whether the Tin Can and Apapa projects can finally solve the country’s decades-long port inefficiency and transform its maritime economy.
Prime Business
