Harboursandport.com: Lagos – March 15, 2025: Stanbic IBTC Asset Management Limited, Fund Manager of the Stanbic IBTC Infrastructure Fund has partnered SIFAX Group through its subsidiary, SIFAX Shipping ICT Limited, to facilitate the development of an ultra-modern port terminal on 8.3 hectares of land (82,846 m²) in Ijora, Lagos.
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| L-R: Jesuyemisi Odeyemi, Group Head, Legal services, SIFAX Group; Taiwo Afolabi, Chairman, SIFAX Group; Dolu Olugbenjo, Head of Corporate Financing Solutions, Stanbic IBTC; Mrs. Wunmi Eniola-Jegede, Group Coordinating Director, SIFAX Group and Rotimi Teteye, Senior Vice President, Stanbic Infrastructure Fund at the official signing of the contract agreement. |
The partnership through the development of the Ijora terminal, intends to add value to the maritime transport and logistics industry by providing additional cargo clearing capability which is expected to result in reduced congestion at the Apapa and Tin-can Ports, thereby improving efficiency and reducing delays for importers and exporters.
The terminal, which is now under construction and partly operational, is expected to complement the broader port services rendered by the existing ports along the same water channel in Apapa, Lagos.
The project encompasses the development of a new container terminal, construction of a quay wall, dredging of the harbour, and the procurement of essential port equipment towards contributing to solving critical capacity needs in Nigeria's maritime industry.
This transaction is aligned with Stanbic IBTC’s commitment to supporting impactful infrastructure projects and contributing to the sustainable development of Nigeria. As a leading investor in infrastructure in Nigeria,
Stanbic IBTC is committed to playing a pivotal role in ensuring that the institution can support projects that will enhance the country's infrastructure
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