Inside Story of Italian MSC’s 45-Year Deal To Develop Lagos’ Snake Island Container Terminal

BY ADEYEMI SHONIBARE

Nigeria’s maritime sector is poised for a major boost following a landmark agreement involving the world’s largest container shipping company, Mediterranean Shipping Company (MSC), which has secured a 45-year concession to build, manage and operate a new container terminal at Snake Island Port in Lagos.

The project will be executed in partnership with Nigerdock and represents one of the most significant private investments in Nigeria’s port infrastructure in decades.

The new terminal will be located within the Snake Island Integrated Free Zone in Lagos and is expected to expand Nigeria’s container-handling capacity, improve cargo turnaround time and strengthen the country’s role as a logistics gateway for West Africa.

A Project Decades in the Making

The agreement marks the culmination of more than four decades of efforts by Nigeria to attract global investors to develop the Snake Island port corridor.

The Federal Government granted a 99-year concession for the Snake Island port facility to Nigerdock in 1992, paving the way for private sector participation in the development of the port.

Nigerdock itself was later privatised and is currently operated by the Jagal Group, a Nigerian industrial conglomerate owned by Maher Jarmakani.

With MSC now entering the project through a 45-year agreement to build and operate the container terminal, the long-awaited development of the port is moving into a new phase.

Construction and Engineering Partners

The construction of the terminal infrastructure will be handled by two internationally recognised engineering companies: ITB Nigeria Limited and DEME Group.

ITB Nigeria Limited is part of the Chagoury Group and is owned by the Chagoury family, prominent investors with extensive experience in large-scale infrastructure development across Nigeria.

DEME Group is a Belgian marine engineering and dredging company known globally for major port construction and maritime infrastructure projects.

Together, the companies will undertake the engineering, procurement and construction of the modern container terminal facility.

Company Profile: Mediterranean Shipping Company (MSC)

Mediterranean Shipping Company is currently the largest container shipping company in the world, controlling more than 20 percent of global container shipping capacity.

Founded in 1970 with Headquarters in Geneva, Switzerland, the company operates a vast global logistics network that includes: operations in 155 countries, service coverage across more than 500 ports worldwide, a fleet of approximately 900 container vessels and more than 200,000 employees globally.

Beyond container shipping, the MSC Group has expanded into several related sectors including: cruise tourism through MSC Cruises, inland logistics through Medlog Port terminal operations through Terminal Investment Limited, and Air freight operations through MSC Air Cargo.

Founders and Ownership

MSC was founded by Italian shipping entrepreneur Gianluigi Aponte and his wife Rafaela Aponte-Diamant.

Captain Aponte started the company after purchasing his first cargo ship with a $200,000 loan, launching a small shipping operation that gradually grew into a global maritime enterprise. Today the company remains privately owned by the Aponte family, with the founders each holding 50 percent ownership of MSC.

Founder’s Net Worth

According to Forbes, the estimated real-time net worth of 85 year-old Gianluigi Aponte is approximately $43.9 billion as of February 2026 placing him among the world’s richest shipping magnates.

The company remains privately owned by the Aponte family, with both founders holding equal ownership stakes.

Management comments

Rafaela Aponte-Diamant is recognised as one of the wealthiest women in the shipping industry and co-owner of the MSC Group.

Leadership of MSC

The company continues to operate under strong family leadership supported by global executives.

Chairman Gianluigi Aponte,

Group, President Diego Aponte,

Chief Executive Officer Søren Toft,

Chief Financial Officer

Alexa Aponte Vago.

Together they oversee one of the most extensive maritime logistics networks in the world.

MSC Management on the Nigeria Investment

Speaking on the agreement, MSC Group President Diego Aponte emphasised the company’s commitment to Nigeria. “Completing this key phase demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa,” Aponte said.

He noted that the project will enhance port efficiency, open new opportunities and strengthen Snake Island Port as a major global shipping centre.

Nigerdock’s Position on the Partnership

The Chief Executive Officer of Nigerdock, Maher Jarmakani, described the partnership as a major milestone for the Nigerian maritime sector.

“We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port.”

According to the company, the investment will bring significant foreign direct investment into Nigeria’s maritime industry and accelerate the development of modern port infrastructure.

Economic Impact for Nigeria

Industry analysts say the project could significantly strengthen Nigeria’s maritime economy by expanding cargo handling capacity, reducing congestion at Lagos ports and attracting additional international shipping traffic.

The development of Snake Island Container Terminal is expected to deliver substantial economic benefits and also expected to create thousands of direct and indirect jobs across maritime operations, logistics, transport services and port-related commercial activities.

Expansion of Maritime Trade

The facility will significantly increase Nigeria’s container-handling capacity and reduce congestion at Lagos ports.

Beyond the port development, plans are also underway for Nigeria’s first underwater tunnel, linking Ahmadu Bello Way in Victoria Island through Snake Island and connecting the Lagos-Calabar Coastal Highway with the Sokoto-Badagry Superhighway corridor through Badagry.

The tunnel project is expected to significantly improve freight movement and road connectivity between Lagos ports and national transport networks.

Attraction of Global Investment

With the entry of MSC into the Snake Island development, industry observers say Nigeria is taking a significant step toward modernizing its maritime infrastructure and positioning itself as a regional hub for global shipping and trade.

For a project that has waited for decades for major international investors, the Snake Island concession represents a turning point in Nigeria’s port development strategy and a strong signal of global confidence in the country’s maritime future. The entry of MSC, the world’s largest shipping line, signals strong international confidence in Nigeria’s maritime sector.

Government Revenue

Nigeria will benefit from increased revenue through: Customs duties, Concession royalties, Cargo handling charges and Maritime logistics services.

Development of the Blue Economy

The project supports Nigeria’s growing focus on the Blue Economy, which aims to harness economic opportunities from maritime resources and coastal infrastructure.

Employment Opportunities

The development and operation of the terminal are expected to generate thousands of jobs.

Direct Employment Opportunities will include: Port engineers, Crane operators, Logistics specialists, Terminal managers and Maritime security personnel.

Indirect Employment

Additional employment will arise in: Trucking and haulage services, Warehousing and distribution ship chandelling and marine services, Customs brokerage and Hospitality and commercial activities around the port corridor.

Strengthening Nigeria’s Maritime Position

Located within the Snake Island Integrated Free Zone in Lagos, the port development will complement Nigeria’s existing port infrastructure and help improve cargo movement across the country.

With stronger partnerships between global shipping companies and local maritime operators, Nigeria is steadily positioning itself to become a leading maritime and logistics hub in West Africa.

The 45-year concession granted to Mediterranean Shipping Company represents a significant milestone for Nigeria’s maritime sector.

After decades of searching for investors to fully develop Snake Island Port, the partnership between MSC and Nigerdock brings together global shipping expertise, international engineering capacity and local industrial leadership.

With construction led by ITB Nigeria and DEME Group, the project is expected to transform the Snake Island corridor into one of the most modern container terminal facilities in the region, strengthening Nigeria’s role in global maritime trade.

Prince Adeyemi Shonibare, a media entrepreneur writes from Lagos