Maher Jarmakani, the Chairman and CEO of Nigerdock, has announced that the new 45-year concession agreement for Snake Island Port with the Federal Government of Nigeria will attract approximately $1 billion in private investment.

 The agreement will allow for an expanded operational scope. Jarmakani expressed his gratitude to the Federal Government for supporting the expansion of Nigerdock's operations, which will contribute to Nigeria's economy and the growth of the maritime sector. The concession agreement is expected to create job opportunities and develop critical infrastructure.

Nigerdock, a multipurpose port facility located within the Snake Island Integrated Free Zone, operates in ship repair, logistics, and free zone solutions, and has been involved in terminal operations since receiving approvals from the Nigerian Ports Authority and Nigeria Customs Service.

 The establishment of Snake Island Integrated Free Zone was approved by the Presidency in 2005, and the facility was granted direct shipping and cargo handling operations by the respective authorities in 2017 and 2021.

source; the punch
https://punchng.com/snake-island-to-attract-1bn-private-investment-official/