Stanbic IBTC Partners SIFAX Group to Develop Modern Ijora Port Terminal

Stanbic IBTC Asset Management, as the manager of the Stanbic IBTC Infrastructure Fund, has joined forces with SIFAX Group of Companies via its subsidiary, SIFAX Shipping ICT Limited, to spearhead the construction of a state-of-the-art container terminal in Ijora, Lagos. Spanning over 8.3 hectares, this project includes building a new terminal, reinforcing the quay wall, harbor dredging, and equipping the port with modern infrastructure.

Aiming to ease congestion at Lagos’s Apapa and Tincan Ports, this initiative seeks to boost cargo clearance capacity, improving trade efficiency for importers and exporters. The terminal is already partially operational, offering supplementary services to existing ports.

By supporting this venture, Stanbic IBTC reaffirms its role in driving impactful infrastructure projects, fostering sustainable development, and strengthening Nigeria’s economic framework. The project promises notable benefits, including enhancing trade flow, creating employment, and alleviating port congestion challenges.

Leaders from both Stanbic IBTC and the SIFAX Group have expressed pride in the partnership’s progress, emphasizing its potential to reshape the maritime and logistics landscape while contributing to Nigeria’s economic growth and sustainable development goals.