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Terminal operator ICTSI withdraws from delayed Nigeria project

Terminal operator ICTSI will, with a mutual agreement, withdraw from a more than 20-year long concession arrangement in Lekki Port in Nigeria, abandoning the project entirely. The terminal project is located in the same region in Nigeria where APM Terminals is similarly struggling with a terminal venture.

APM Terminals in Nigeria Photo: APM Terminas

Philippine port and terminal operator ICTSI will halt all work in Nigeria in the project related to operating a terminal in Lekki Port in Lagos. The terminal was scheduled to open in 2016, but the project has been so delayed that it is still not in operation, informs ICTSI in a notice to the stock change.

In the notice, the company states that the concession arrangement between ICTSI's subsidiary Lekki International Container Terminal Services LFTZ Enterprise (LICTSE) and the port's company Lekki Port LFTS Enterprise (LPLE) is terminated.

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