The NPA’s push comes amid loan repayment concerns
NIGERIAN Ports Authority (NPA) has announced that the $1 billion port modernization project is set to begin physical work before the end of Q3 2026. The agency is actively engaging with stakeholders and host communities in preparation for contractor mobilization to the site.
The assurance comes as the maritime industry is increasingly concerned as Nigeria reportedly has started repaying a foreign loan, including interest, for a project that has not yet begun construction.
The project’s aim is to rehabilitate Lagos’s major ports, addressing decades of infrastructure decay and enhancing operational efficiency.
NPA’s General Manager, Ikechukwu Onyemekara, indicated final preparations are underway for the heavy construction activity anticipated.
The project gained traction after a 2024 financing agreement with the United Kingdom Export Finance (UKEF), intended to fund critical infrastructure reconstruction at key ports like Lagos Port Complex and Tin Can Island Port.
Stakeholders warn that deteriorating facilities have escalated operational costs and inefficiencies.