Nigeria and partners invest $27 billion in expanding port

Nigeria and a consortium of international partners—including the International Finance Corporation, the African Development Bank, and private investors—have pledged about $27 billion to expand and modernize the country’s ports. The funding will finance new berths, deeper drafts, upgraded cargo handling equipment, and improved logistics at major terminals such as Lagos, Port Harcourt, and Calabar, aiming to boost trade capacity, reduce congestion and support Nigeria’s goal of becoming a regional maritime hub. Views Nigeria