Ajaokuta Inland Port - SEALINK PROJECT

Company Description

The Nigerian Export-Import Bank (NEXIM) was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of N50, 000,000,000 (Fifty Billion Naira) held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria. The Bank which replaced the Nigerian Export Credit Guarantee & Insurance Corporation earlier set up under Act 15 of 1988, has the following main statutory functions:

• Provision of export credit guarantee and export credit insurance facilities to its clients.
• Provision of credit in local currency to its clients in support of exports.
• Establishment and management of funds connected with exports.
• Maintenance of a foreign exchange revolving fund for lending to exporters who need to import foreign inputs to facilitate export production.
• Provision of domestic credit insurance where such a facility is likely to assist exports.
• Maintenance of a trade information system in support of export business.

The Bank presently provides short and medium term loans to Nigerian exporters. It also provides short term guarantees for loans granted by Nigerian Banks to exporters as well as credit insurance against political and commercial risks in the event of non-payment by foreign buyers. The Bank is also the government’s National Guarantor under the ECOWAS Inter-state Road Transit programme.

Countries of Operation

Nigeria

Ownership of Company

Local

Number of years since incorporated

35

Project Pitch

SEALINK PROJECT – Connecting African Markets Development of Freight Corridors for Inland Waterways Operations & Coastal Trade Connectivity: Ajaokuta Inland Port

The Regional SEALINK Project is a strategic partnership led by NEXIM with PoABI as technical partner, working alongside key stakeholders to close critical logistics gaps. It focuses on two powerful trade corridors:

1) Regional Coastal Trade Corridor – Boosting direct shipping links for intra -African trade under AfCFTA by:

• Cutting logistics costs and transit times to strengthen Nigeria’s competitiveness
• Preparing Nigeria for sustainable trade in the AfCFTA market • Raising Nigeria’s Liner Shipping Connectivity Index ranking

2) Inland Waterways Freight Corridor – Transforming the Niger River into a navigable “trade highway” deep into the hinterland, enabling: • Expanded inland waterway operations for bulk minerals and agricultural exports

• Development of the Lower Niger/Benue as a green freight and economic corridor
• Support for industrial port complex growth

In short: SEALINK is about connecting coasts and rivers, unlocking Nigeria’s trade potential, and driving regional integration.

Ajaokuta Inland Port

Planned Improvements & Facilities

Infrastructure & Equipment

• Cold Chain Facilities – for perishable cargo.
• Logistics Handling Equipment – cranes, forklifts, conveyors.
• Channel Sweeping / Dredging – maintain navigable depth.
• Communications System – modern port IT & radio network.
• Weigh Bridge Installations – accurate cargo measurement.

Team

The Regional SEALINK Project is a strategic partnership led by NEXIM with PoABI as technical partner, working alongside key stakeholders to close critical logistics gaps.

The Sealink Promotional Co. Ltd (SPCL) was established and partially created by NEXIM to coordinate regional trade interests across ECOWAS and CEMAC through strategic partnerships (Transimex (SA) Cameroun, representing interest of the CEMAC region and FEWACCI as an umbrella body for NACCIMA/MAN Export Group representing ECOWAS)

The SPCL was created to drive promotional development activities, preparing its transition into a publicly listed port, logistics, and shipping company (Public Liability Company-PLC).

Type of Project

Public Private

Stage

Established

Annual Revenue (in EUR)

Upon request

Number of employees

Upon request

Total Project Cost (in EUR)

Port equipment : 7,400,000 $

Greenfield development : 200,000,000 $

Financing needs (in EUR)

The whole Sealink Project aims to raise US$1.5M Funding from donors, partners, and private stakeholders.

Type of financing needed

PPP

The Company is looking for

Upon request

Planned allocation of fundraising capital

Upon request