APM Terminals has taken major steps to bolster Nigeria’s maritime industry with a $500 million investment.
During a courtesy visit to the Minister of Marine and Blue Economy, Adegboyega Oyetola, in Abuja yesterday, the company announced an initial investment of $500 million to support its port terminal operations in Nigeria.
The delegation, headed by Peter Wikstrom, Chief Financial Officer (CFO) of APM Terminals, alongside Igor Van den Essen, President for Africa/Europe, Frederik Klinke, Chief Executive Officer of APM Terminals Nigeria, and Courage Obadagbonyi, Chief Financial Officer of APM Terminals Nigeria, emphasised their dedication to ensuring Nigeria’s maritime sector maintains its leadership role across Africa.
Oyetola expressed his appreciation for APM’s contributions, highlighting their impactful infrastructure developments at the Lagos Port Complex, Apapa.
“We are pleased with the quality of infrastructure that APM Terminals has delivered at the Lagos Port Complex, Apapa. The standard you have set should be the minimum benchmark for other terminal operators across the country,” Oyetola remarked.
He also highlighted that the $500 million investment must align with the government’s broader goals of modernizing Nigeria’s Western ports and enhancing their competitiveness.
“The eastern ports will also not be left behind; we are determined to ensure a holistic upgrade of all Nigerian ports,” he added.
The Minister further stressed the Federal Government’s ongoing efforts to deepen draft levels at Lagos ports to a minimum of 16 meters, enabling the berthing of larger vessels, improving turnaround time, and reducing shipping costs. Additionally, he revealed plans for full port modernisation and automation, in close collaboration with the Nigeria Customs Service (NCS), to implement advanced scanning technologies and reduce reliance on manual cargo inspections.
“With our modernisation efforts, we are confident that Nigerian ports will soon rank among the best in the world. Our goal is to create a maritime environment that is efficient, transparent, and attractive to both local and international investors,” the Minister stated.