ICTSI abandons Nigeria port project

Prolonged delays have forced the hand of International Container Terminal Services (ICTSI), which announced it was walking away from a port contract in Nigeria as a result. Nikkei reports that ICTSI’s Nigerian unit and port promoter, Lekki Port LFTZ Enterprise, mutually agreed to terminate a sub-concession agreement signed in 2012. Had the agreement been a success, ICTSI would have had exclusive rights to develop and run a container terminal within Lekki Port for 21 years.