Country
Singapore
Sector
Industrials / Infrastructure
Intelligence Type
Corporate
Status / Stage
Expanding
Confidence
Confirmed
Latest Development
Singapore/Nigeria conglomerate — one of Nigeria’s largest private companies — operating manufacturing (Indomie noodles), infrastructure (Lekki Deep Sea Port, opened 2023) and fintech (Alat digital bank). Planning Phase 2 expansion of Lekki Port from 2.7m to 7.6m TEU.
Company Profile
Company TypePrivate
HeadquartersSingapore; Lagos, Nigeria
Countries of OperationNigeria (primary); Ghana; Côte d'Ivoire; Senegal; Kenya
Founded1948
Websitetolaram.com
Key ExecutivesHaresh Aswani (CEO Africa); Deepak Singhal (Group CEO)
Key Developments
Lekki Deep Sea Port (opened 2023, 16.5m draft, 2.7m TEU capacity) — Phase 2 to 7.6m TEU planned. Indomie Nigeria dominance. ALAT digital bank. Infrastructure pivot from manufacturing to port ownership is one of the most significant Nigerian corporate strategy shifts of the last decade.
Key Risks
Lekki Port Phase 2 financing and timing uncertain. Competition from Lagos Apapa (DP World) and Tin Can Island.
What Happens Next
Lekki Port Phase 2 FID and expansion financing.
Commercial Opportunity Intelligence
Opportunity SignalTolaram owns Nigeria's most modern deep sea port — planning to triple capacity.
Commercial ReadinessEarly
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)Businessday NG; Lekki Port official; NPA; Tolaram Group official
Source Date2023–2026