Mediterranean Shipping Company (MSC) has signed a $1 billion agreement to expand port infrastructure at Snake Island Port in Lagos, a move aimed at strengthening maritime capacity and boosting cargo handling in Nigeria.
The investment will focus on upgrading port facilities, expanding terminal capacity and improving logistics infrastructure to support growing trade volumes in West Africa. The project is expected to enhance the efficiency of cargo operations and position Snake Island as a key gateway for regional shipping and transshipment.
MSC’s expansion plan includes modern container-handling equipment, improved storage areas and upgraded quay infrastructure to accommodate larger vessels. The development is also expected to support Nigeria’s efforts to modernise its port network and reduce congestion at major gateways.
Industry officials say the project could significantly increase cargo throughput at Snake Island while creating new opportunities for logistics providers and supporting industries. The expansion is also expected to improve connectivity for importers and exporters in Nigeria and neighbouring countries.
The investment highlights MSC’s broader strategy of strengthening its global terminal and logistics footprint through infrastructure development and partnerships in key maritime markets. With trade volumes in West Africa continuing to grow, enhanced port capacity is seen as critical to supporting regional economic activity and maritime connectivity.