The Nigerian Ports Authority (NPA) has secured the full financing required for a $1 billion reconstruction and modernization program, with work set to begin in the third quarter.
Managing Director Dr. Abubakar Dantsoho confirmed that the authority has finalized the funding necessary to overhaul the country’s port infrastructure, a move designed to address long-standing bottlenecks at major trade hubs.
By securing the full $1 billion in funding, the NPA signals a commitment to accelerating infrastructure upgrades that have been planned but delayed by financing gaps.
The initiative represents a significant capital injection into West Africa’s logistics sector, where chronic congestion has historically weighed on trade efficiency and increased costs for importers and exporters.
By securing the full $1 billion in funding, the NPA signals a commitment to accelerating infrastructure upgrades that have been planned but delayed by financing gaps.
This development follows earlier reports of a broader modernization strategy aimed at doubling cargo throughput and revenue.
The NPA has previously forecast double-digit growth in cargo volumes, supported by complementary private-sector investments, including an $85 million infrastructure project at the Port Harcourt terminal by BUA Group.