Tinubu’s Govt approves $1bn for Lagos ports’ modernisation

The President Bola Tinubu-led Federal Government has approved a $1 billion (₦1.4 trillion) modernisation project for Lagos’ Apapa and TinCan Island ports.

The move is aimed at overhauling the country’s most critical maritime gateways and boosting Nigeria’s competitiveness in global trade.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, said the project would transform the ports into fully digital, technology-driven facilities designed to eliminate paperwork, improve cargo handling, and reduce turnaround time for vessels.

According to Oyetola, the upgrade aims to create a paperless, technology-driven port system, improve cargo handling, and reduce turnaround time.

The minister explained that the initiative forms a key part of the federal government’s 10-year marine and blue economy strategy — a long-term roadmap to reposition Nigeria’s maritime sector as a major contributor to GDP and employment. The plan also includes the gradual extension of similar modernisation projects to other ports across the country, such as Onne, Warri, Calabar, and Port Harcourt.

The Apapa and TinCan Island ports handle about 70% of Nigeria’s seaborne trade but have struggled for years with congestion, aging infrastructure, and bureaucratic bottlenecks that drive up logistics costs. Industry stakeholders have long called for an overhaul to restore efficiency and competitiveness.

The government hopes that the modernisation will attract new private investment, streamline customs operations, and strengthen Nigeria’s role as a regional shipping hub.

(NAIRAMETRICS)