Nigerdock, a service provider to the offshore oil and gas sector has received approval of the federal government for the commencement and expansion of Snake Island Port, a project estimated to cost over a billion dollars and generate over $5.2 billion revenues to the country.
A statement by Nigerdock, yesterday, stated that it was estimated that the total investment by the private sector for the development of Snake Island Port would be about $1 billion initially, with a further $850 million re-invested over the project’s lifetime. After acquiring Nigerdock, Jagal had embarked on an ambitious expansion programme, investing heavily in new infrastructure, equipment and facilities, rapidly expanding the company’s workforce, increasing productivity, and improving efficiency.
It played a central role in the growth of Nigeria’s local content capacity and the development of the country’s energy assets.
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