… terminal pledges $500M for expansion in Nigeria
The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that the APM Terminals has set a standard that should be a minimum benchmark for other terminal operators across the country.
This is just as the APM Terminals has pledged USD500 million for the expansion of its operations in Nigeria.
Oyetola made this assertion while receiving a delegation from the terminals on a visit to him in his office in Abuja.
Chief Financial Officer (CFO) of APM Terminals, Peter Wikstrom, who led a delegation of APM Terminals to visit the Minister of Marine and Blue Economy, n Wednesday April 9, 2025, reaffirmed the financial commitment.
Other members of the APM Terminals delegation included President, Africa/Europe, Mr. Igor Van den Essen; CEO APM Terminals Nigeria, Mr. Frederik Klinke; and CFO APM Terminals Nigeria, Courage Obadagbonyi.
Wikstrom expressed enthusiasm about the ongoing transformation in Nigeria’s maritime sector.
“This is my first visit to Nigeria, and I’m impressed by the scale of opportunity here,” he said, noting that Nigeria, as Africa’s largest economy, is a strategic investment destination for APM Terminals.
Wikstrom said APM Terminals has operated in Nigeria for over 20 years, and sees a promising future for the country.
He affirmed that the fresh investment will be channelled towards expanding terminal capacity, enhancing cargo handling efficiency, and supporting the federal government’s goal of attracting larger vessels to Nigerian.
Also speaking, Klinke thanked the Honourable Minister for his commitment to reforms in the maritime sector. He expressed appreciation to him for his leadership and the strong encouragement he has provided to investors.
He said the Minister’s efforts to remove procedural bottlenecks at the port are already yielding results, “and we are proud to be part of the journey to transform Nigerian ports”.
The CEO also said that APM Terminals is working closely with the Nigeria Customs Service to invest an additional USD10 million in the acquisition and deployment of modern cargo scanners at Apapa Port, which he noted would significantly boost trade facilitation and reduce cargo dwell time.
He stated that APM Terminals aims to become the first terminal operator in Nigeria to achieve full deployment of state-of-the-art scanning technology. This strategic move, he noted, will drastically reduce the reliance on physical examination of containers, streamline cargo clearance processes, and significantly enhance the overall efficiency and competitiveness of Nigeria’s trade and logistics ecosystem.
The Minister, Adegboyega Oyetola, on his part welcomed the commitment by APM Terminals, describing the company as a model for terminal operations 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.
“This fresh USD500 million investment must align with our broader agenda to modernise the Western ports and enhance port competitiveness. The Eastern ports will also not be left behind, we are determined to ensure a holistic upgrade of all Nigerian ports”, Oyetola said.
He emphasised the federal government’s drive to deepen draft levels at the Lagos ports to a minimum of 16 metres, which will allow for the berthing of larger vessels, improve turnaround time, and reduce shipping costs.
Oyetola further disclosed that the government is actively pursuing full port modernisation and automation, working in close collaboration with the Nigeria Customs Service to deploy scanners and eliminate the heavy reliance on physical cargo examinations.
“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 added.
The Permanent Secretary of the Federal Ministry of Marine and Blue Economy, Mr. Olufemi Oloruntola; Chief of Staff to the Honourable Minister of Marine and Blue Economy, Dr. Charles Akinola and the Special Adviser (Technical) to the Honourable Minister, Dr. Charles Okaga, joined the Minister in receiving the APM Terminals delegation.