APM Terminals has restated its readiness to invest $500 million to expand its operations in Nigeria, as part of efforts to boost the country’s maritime industry and improve port efficiency.
The commitment was made public on Thursday when a team from APM Terminals, led by its Chief Financial Officer, Mr. Peter Wikstrom, visited the Minister of Marine and Blue Economy, Adegboyega Oyetola, in Abuja. During the meeting, Wikstrom announced that the planned investment would be used to expand terminal capacity, improve how cargo is handled, and support the government’s plan to attract bigger ships to Nigerian ports.
“The company is committed to investing $500 million in expanding our areas of operations in Nigeria,” Wikstrom stated, adding that APM Terminals has been operating in Nigeria for over two decades and sees a bright future in the country’s maritime sector.
Wikstrom expressed confidence in the ongoing reforms in the maritime industry and described Nigeria, which is Africa’s largest economy, as a key investment destination for APM Terminals.
Also speaking at the event, the Chief Executive Officer of APM Terminals Nigeria, Mr. Frederik Klinke, praised the efforts of the minister, saying his leadership has encouraged more investment into the sector. Klinke noted that the minister’s moves to cut down on port delays and simplify port operations are already showing positive results.
He also revealed that the terminal is working hand in hand with the Nigerian Customs Service to inject an additional $10 million for the purchase and use of advanced cargo scanners at Apapa Port. According to him, the new scanners will speed up trade processing and reduce how long cargo stays at the port.
In response, the Minister of Marine and Blue Economy, Adegboyega Oyetola, welcomed the team and described APM Terminals as a good example for other port operators in the country. He emphasized that the new $500 million investment should align with the wider goal of upgrading the western ports and making them more competitive.
He assured that the eastern ports would also benefit from government attention, noting that the plan is to improve all ports across the country. He commended APMT for its solid infrastructure at the Lagos Port Complex in Apapa and said their standard should become the minimum requirement for all other operators.
The minister explained that the government’s goal of increasing the depth of Lagos Port to at least 16 meters would allow larger vessels to dock easily, improve ship turnaround time, and lower the cost of shipping goods in and out of Nigeria.
He said the government is pushing for full automation and modernisation of the ports and is working with Customs to deploy scanners and reduce the need for physical examination of cargo.
“With our modernisation efforts, we are confident that Nigerian ports will soon rank among the best in the world,” Oyetola said. “Our goal is to create a maritime environment that is efficient, transparent, and attractive to both local and international investors.”
This latest investment plan by APM Terminals is seen as a major step forward in Nigeria’s efforts to reform and grow its maritime sector.
