ICTSI pulls out of Nigeria terminal project

ICTSI has terminated a sub-concession agreement to develop and operate a container terminal at Lekki Port, Nigeria, despite its ongoing strategy of investing in Africa.

The port operator’s subsidiary Lekki International Container Terminal Services LFTZ Enterprise (LICTSE) and Lekki Port LFTZ Enterprise (LPLE) have mutually agreed to terminate it due to delays in executing the project.

According to ICTSI, LICTSE will be paid an amount agreed by the parties for the termination of the deal.