Spanning 8.3 hectares (82,846 m²), the Ijora Terminal project includes the construction of a new container terminal, quay wall, harbor dredging, and procurement of critical port equipment. The development is set to address Nigeria’s pressing maritime capacity constraints, enhancing efficiency in cargo handling and reducing congestion at the Apapa and Tincan Island Ports.
A Boost for Nigeria’s Maritime Sector
The Ijora Terminal, now under construction and partially operational, is expected to complement existing port services along the Apapa water channel. By increasing cargo clearing capacity, the project aims to streamline trade operations, reduce delays for importers and exporters, and stimulate economic growth.
Mr. Dolu Olugbenjo, Chief Investment Officer of the Stanbic IBTC Infrastructure Fund, emphasized the project’s broader impact:
“This initiative presents a unique opportunity to modernize Nigeria’s maritime infrastructure, which is vital for the nation’s economic prosperity. Beyond expanding port capacity, the project will generate significant socio-economic benefits—facilitating smoother trade, creating employment, and alleviating congestion at major ports.”
Commitment to Sustainable Development
The collaboration aligns with Stanbic IBTC’s mandate to support high-impact infrastructure projects that drive Nigeria’s sustainable development. With strong financial prospects, a credible project sponsor, and experienced partners, the Ijora Terminal stands as a viable and attractive investment.
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| L-R: Ms. Jesuyemisi Odeyemi, Group Head, Legal Services and Group Company Secretary, SIFAX Group; Dr. Taiwo Afolabi, Group Chairman, SIFAX Group; Mr. Dolu Olugbenjo, Chief Investment Officer, Stanbic IBTC Infrastructure Fund; Mrs. Wunmi Eniola-Jegede, Group Coordinating Director, SIFAX Group; and Mr Rotimi Teteye Senior Vice President, Stanbic IBTC Infrastructure Fund |
Dr. Taiwo Afolabi, Founder and Group Chairman of SIFAX Group, highlighted the project’s transformative potential:
“Achieving financial close and commencing construction marks a major milestone. Beyond enhancing port capacity, this project will create jobs and contribute to Nigeria’s development goals. The terminal aligns with Sustainable Development Goals (SDGs) 1 (No Poverty), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation, and Infrastructure), and 11 (Sustainable Cities and Communities).”
A Step Toward a More Efficient Maritime Future
As Nigeria continues to grapple with port congestion and logistical bottlenecks, the Ijora Terminal represents a critical step toward modernizing the country’s maritime infrastructure. With construction underway, stakeholders anticipate improved trade flows, reduced operational delays, and long-term economic benefits for Nigeria’s import-dependent economy.
The successful execution of this project underscores the importance of public-private partnerships in bridging infrastructure gaps and fostering sustainable development in Nigeria.