Stanbic IBTC Infrastructure Fund Partners with SIFAX Group to Enhance Ijora Terminal

 In a strategic move to bolster Nigeria’s port infrastructure, the Stanbic IBTC Infrastructure Fund has entered into a partnership with SIFAX Group to support the expansion of the Ijora Inland Container Terminal in Lagos. This collaboration aims to alleviate the persistent congestion challenges at Lagos ports and enhance the efficiency of cargo handling and logistics within the region.

SIFAX Group, through its subsidiary SIFAX Shipping ICT Limited, has been proactive in addressing port congestion issues. The company initiated the expansion of the Ijora terminal, increasing its capacity from the initial 15,000 square meters to an impressive 83,000 square meters. This significant enlargement was achieved by acquiring adjacent properties, thereby enabling the terminal to accommodate a higher volume of cargo and streamline operations.

The expansion project includes comprehensive infrastructure development, with the China Civil Engineering and Construction Company (CCECC) contracted to handle the pavement works. The enhanced terminal is designed to operate by transporting consignments via barges directly to its facility, effectively bypassing the notorious traffic congestion commonly experienced in the Apapa port area. This method not only expedites cargo delivery but also reduces the logistical challenges faced by port users, including truckers, shipping lines, agents, and consignees.

The Stanbic IBTC Infrastructure Fund, established in June 2021 as a ₦100 billion Shelf Programme, is dedicated to bridging Nigeria’s infrastructure deficit by providing long-term funding solutions for critical projects across various sectors. The fund targets investments in areas such as energy, transportation and logistics, gas infrastructure, information and communication technology (ICT), real estate, waste management, and water. By partnering with credible sponsors and focusing on projects with strong cash flow prospects and positive social and environmental impacts, the fund aims to deliver consistent returns above its long-term benchmarks.