Oyetola lauds APM Terminals’ planned $500m investment in port operation in Nigeria

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has commended APM Terminals for its renewed commitment to invest $500 million in expanding port operations across Nigeria.

Speaking while receiving a delegation from APM Terminals in Abuja, Oyetola welcomed the company’s pledge, describing it as a model worthy of emulation by other terminal operators in the country.

“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,” the Minister said.

He stated that the proposed $500 million investment must align with the Federal Government’s agenda to modernise the Western ports and boost competitiveness, adding that the Eastern ports would also benefit from a comprehensive upgrade.

Oyetola reiterated the government’s resolve to deepen the draft levels at Lagos ports to a minimum of 16 metres, which, according to him, will accommodate larger vessels, reduce shipping costs, and improve turnaround time.

“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,” he added.

Leader of the APM delegation, Mr Peter Wikstrom, expressed enthusiasm over the transformation taking place within Nigeria’s maritime sector. “This is my first visit to Nigeria, and I’m impressed by the scale of opportunity here,” he said, describing Nigeria as a strategic investment hub for APM Terminals.

He noted that APM Terminals, having operated in Nigeria for over 20 years, is optimistic about the country’s future and intends to channel the new investment into expanding terminal capacity, improving cargo handling efficiency, and attracting larger vessels in line with federal objectives.

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Also speaking, the CEO of APM Terminals Nigeria, Mr Frederik Klinke, revealed that the company is collaborating with the Nigeria Customs Service on an additional $10 million investment for the deployment of modern cargo scanners at the Apapa Port.

According to him, the deployment would enhance trade facilitation and reduce cargo dwell time. He added that APM Terminals aims to become the first terminal operator in Nigeria to achieve full deployment of state-of-the-art scanning technology.

Klinke noted that the initiative would drastically cut down physical container examinations, streamline cargo clearance, and significantly boost the overall efficiency and competitiveness of Nigeria’s trade and logistics environment.

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