MEGA INVESTMENT AT TIN CAN PORT: Arab Tycoons Move To Take Over Concession Deal

By Roland Ekama

 

Nigerian maritime watchers are on alert as the Federal Government appears poised to snub existing port concessionaires with an earth-shaking move to hand over lucrative Tin Can Island Port terminals to deep-pocketed investors from the oil-rich Arab nations, fueled mainly by Dubai’s DP World.

Sources told DAILY FOCUS NIGERIA, that the government is playing hardball on license renewals, triggered by jaw-dropping bids from UAE investors eager to inject billions into one of Africa’s busiest ports ; a move seen as both a challenge to current operators and a bold bet on Nigeria’s strategic maritime future.

DP World, a front-runner with a commanding presence across Africa, is reportedly courting Nigerian authorities aggressively, pitching multi-billion-dollar plans for a breathtaking port makeover, including an industrial park and a logistics powerhouse designed to rocket Lagos into the global shipping elite.

The firm’s grand vision stretches beyond Nigeria, with eye-popping investments planned across Africa — from deep-water ports in the Democratic Republic of Congo and Senegal to major container terminal expansions in Mozambique, Kenya, and South Africa, riding Africa’s mineral export boom.

As excitement bubbles, insiders reveal some current concessionaires, whose contracts teeter on the brink of expiry, face government stonewalling even as they lobby feverishly for extensions. The controversial Build Own Operate and Transfer (BOOT) agreement for Ports and Terminal Multipurpose Limited (PTML) remains the only one seemingly spared for now.

Government sources hint at a decisive shift from the old guard’s hands-off concession policies as the Bola Ahmed administration sets sights on full port authority autonomy and a crackdown on profit-driven terminal operators accused of neglecting infrastructure.

This mounting tussle signals a new dawn for Lagos port operations, with the Nigerian government and DP World’s promises of mega investments potentially rewriting the rules of engagement in the nation’s maritime sector.

With this development closely; Nigeria’s port revolution is about to accelerate — and the stakes couldn’t be higher.

DAILYFOCUS NIGERIA, reports that DP World management recently visited Nigeria’s government, represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, to discuss a strategic partnership aimed at upgrading and modernizing Nigeria’s port infrastructure.

Recall that the visit underscored the Nigerian government’s readiness to collaborate with DP World, a global port operator known for running the Port of Dubai and operating in 48 countries with over 90 terminals worldwide.

 

The Nigerian government expressed strong interest in attracting private sector investments to enhance port management and logistics capabilities.

DP World proposed establishing an industrial park at Nigerian ports to complement port activities, provide a logistics base for export processing, and boost trade. The Minister welcomed the proposal and asked DP World to submit a formal proposal to the Nigerian Ports Authority for consideration.

The Nigerian government highlighted its extensive coastline and availability of land suitable for industrial parks development.

Efforts are underway by the Nigerian government to deepen port draughts to 16–16.5 meters to restore Nigeria’s status as a transshipment hub.

The government is also focused on digitizing and automating port processes to boost efficiency and reduce human interface, with initiatives such as the Cargo Tracking System, Port Community System, and National Single Window.

DP World expressed keen interest in deploying its expertise to improve Nigeria’s port infrastructure and logistics systems.