APM Terminals has reaffirmed its commitment to invest $500 million in expanding its operations across Nigeria.
This was revealed when a high-level delegation – led by Mr. Peter Wikstrom, chief financial officer of APM Terminals, and including Mr. Igor Van den Essen, its president for Africa and Europe, Mr. Frederik Klinke, CEO of APM Terminals Nigeria and Mr. Courage Obadagbonyi, CFO of APM Terminals Nigeria – visited the Minister of Marine and Blue Economy, Adegboyega Oyetola.
During the meeting in Abuja, the minister welcomed the commitment from APM Terminals, describing the company as a model for terminal operations in Nigeria. He commended the quality of infrastructure delivered at the Lagos Port Complex in Apapa, stating that the standard set by APM Terminals should serve as the minimum benchmark for all terminal operators nationwide. Oyetola stressed that this fresh $500 million investment must align with the broader government agenda to modernise the Western ports and enhance overall port competitiveness.
He added that the Eastern ports would not be left behind, as the government is determined to ensure a comprehensive upgrade of all ports in the country.
The minister further underlined the Federal Government’s commitment to deepening the draft levels at Lagos ports to at least 16 metres. This, he explained, would enable the berthing of larger vessels, reduce shipping costs and improve turnaround time. He also disclosed that full port modernisation and automation were priorities, with the government working closely with the Nigeria Customs Service to deploy advanced scanners and phase out the current dependence on physical cargo examinations.
Oyetola expressed optimism that with these efforts, Nigerian ports would soon rank among the best globally. He affirmed the government’s goal of creating a maritime environment that is efficient, transparent and attractive to both local and foreign investors.
In response, Wikstrom expressed excitement about the transformative changes underway in Nigeria’s maritime sector. He noted that this was his first visit to the country and said he was impressed by the scale of opportunities available. Wikstrom described Nigeria, as Africa’s largest economy, as a strategic investment destination for APM Terminals.
He noted that the company had been operating in Nigeria for over 20 years and saw a bright future ahead. He confirmed that the new investment would focus on expanding terminal capacity, improving cargo handling efficiency, and supporting the government’s drive to attract larger vessels to Nigerian ports.
Klinke expressed gratitude to the minister for his leadership and steadfast support for reforms in the maritime sector. He acknowledged the minister’s dedication to removing procedural bottlenecks at the ports and noted that these efforts were already producing positive outcomes. Klinke stated that APM Terminals was proud to be part of the journey to transform Nigeria’s ports.
He further disclosed that APM Terminals is collaborating closely with the Nigeria Customs Service to invest an additional $10 million in acquiring and deploying modern cargo scanners at Apapa Port. He explained that these scanners would significantly boost trade facilitation and reduce cargo dwell time. Klinke emphasised that APM Terminals aims to become the first terminal operator in Nigeria to fully deploy state-of-the-art scanning technology. This strategic advancement, he said, would drastically reduce reliance on physical container inspections, streamline cargo clearance processes and enhance the overall efficiency and competitiveness of Nigeria’s trade and logistics landscape.
The visit underscored growing investor confidence in Nigeria’s marine and blue economy sector, driven by policy consistency, regulatory reforms and a strong focus on infrastructure development under the leadership of the Federal Ministry of Marine and Blue Economy.
The permanent secretary of the ministry, Mr. Olufemi Oloruntola; chief of staff to the minister, Dr. Charles Akinola and the special adviser (technical) to the minister, Dr. Charles Okaga joined the minister in receiving the delegation from APM Terminals.
