Global Shipping Giant MSC Secures 45-Year Deal to Build Major Container Terminal at Lagos’ Snake Island Port

Story: Springnewsng media limited Match 13,2026
Mediterranean Shipping Company, the world’s largest container shipping line, has obtained a 45-year concession to develop a new container terminal at Snake Island Port in Lagos, marking one of the most significant private maritime investments in Nigeria in recent years.
The Geneva-based shipping group confirmed it has signed a concession agreement with Nigerdock, the current operator of Snake Island Port. At the same time, the company finalized an Engineering, Procurement and Construction (EPC) contract with ITB Nigeria Ltd and DEME Group to construct the modern facility.
Industry sources say the project will push MSC’s cumulative investment in Nigeria beyond $1 billion, highlighting growing international interest in the country’s maritime sector.
Large-Scale Terminal Development
The new terminal will be built within Snake Island Port and is designed to accommodate both large deep-sea container ships and smaller barge vessels that distribute cargo within the region.
Project plans indicate that the terminal will feature a 910-metre quay, equipped with advanced ship-to-shore cranes and mobile harbour cranes to enhance cargo handling efficiency.
The initial container yard will span approximately 30 hectares, with expansion capacity built into the design to accommodate future growth in shipping traffic and container throughput.
In terms of maritime infrastructure, the port will initially operate with a dredging depth of about 16.5 metres, which aligns with the current navigation channel into Lagos ports. However, engineers say the terminal’s design allows the depth to be extended to 18 metres in the future, enabling it to receive larger container vessels.
Background to the Project
Plans to expand Snake Island Port were first announced in June 2023 after the federal government granted approval for the project under a Public-Private Partnership (PPP) framework.
Following the approval, Nigerdock revealed that the development would involve around $1 billion in private sector investment, alongside an additional $850 million in reinvestments aimed at strengthening maritime infrastructure within the zone.
By 2024, Nigerdock and the Nigerian Ports Authority reached an agreement to develop a new port complex within an 85-hectare site located in the Snake Island Integrated Free Zone.
The project is expected to include a multipurpose port structure with three different terminals, expanding Lagos’ cargo-handling capacity.
Economic Impact
According to the developers, the new facility could generate significant economic benefits for Nigeria over the long term.
Nigerdock estimates that the terminal development could contribute more than $5.2 billion in revenue to the Federal Government over the 45-year concession period.
Diego Aponte said the project will strengthen logistics services in Nigeria and across Africa.
He noted that the new terminal is expected to improve shipping efficiency, create employment opportunities for Nigerians, and increase trade capacity within the region.
MSC’s Existing Presence in Nigeria
MSC already operates major freight services through several Nigerian ports, including facilities at:
Apapa Port
Tin Can Island Port
Onne Port
These ports currently face heavy congestion and limited capacity, challenges that the new Snake Island terminal is expected to help address.
According to the company’s data, MSC Nigeria handles more than 200,000 Twenty-foot Equivalent Units (TEUs) annually, reflecting the growing demand for container shipping services in the country.
Analysts believe the new terminal could significantly improve cargo handling efficiency, reduce congestion at Lagos ports, and strengthen Nigeria’s position as a major maritime hub in West Africa.
Outlook
Maritime experts say the long-term concession represents a strategic step toward expanding Nigeria’s port infrastructure and attracting more international investment into the shipping and logistics sector.
If completed as planned, the Snake Island terminal could become one of the largest privately developed port facilities in the region.