During a meeting in Abuja with Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, APM Terminals (APMT), represented by CFO Peter Wikstrom, announced a $500 million investment to enhance Nigeria’s port infrastructure.
The funds will expand terminal capacity, improve cargo efficiency, and align with federal goals to attract larger vessels, bolstering Nigeria’s position as a key maritime hub.
Wikstrom highlighted Nigeria’s strategic importance as Africa’s largest economy, underscoring APMT’s 20-year presence and optimism about the sector’s ongoing reforms. CEO Frederik Klinke praised the minister’s efforts to streamline port operations, citing progress in reducing bureaucratic delays. Additionally, APMT is collaborating with Nigerian Customs on a $10 million initiative to deploy advanced scanners at Apapa Port, aiming to accelerate trade and reduce cargo dwell time.
Minister Oyetola lauded APMT’s Lagos Port Complex as a benchmark for terminal operators, urging the investment to support broader modernization of western ports while ensuring eastern ports are similarly upgraded. He emphasized dredging efforts to achieve 16-meter drafts at Lagos ports, enabling larger vessels and cost savings. The government’s automation drive, including scanner deployment with Customs, aims to minimize physical inspections and enhance transparency.
Oyetola expressed confidence that these measures would elevate Nigerian ports to global standards, fostering an efficient, investor-friendly maritime sector.
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