APM Terminals reaffirms $500m investment commitment in port operations
By Seun Ibiyemi
The owners of APM Terminals Apapa have reaffirmed their dedication to investing $500 million in the expansion of their operational footprint in Nigeria, a move poised to significantly enhance port infrastructure and boost trade activity.
In addition, APM Terminals announced a close partnership with the Nigeria Customs Service to inject a further $10 million into the acquisition and deployment of cutting-edge cargo scanners at Apapa Port. This initiative is set to markedly improve trade facilitation and reduce the time cargo spends at the port.
This announcement was made during an official visit to Adegboyega Oyetola, the Minister of Marine and Blue Economy, by a high-powered delegation from the company. The team was led by Peter Wikstrom, Chief Financial Officer, alongside Igor Van den Essen, President of Africa/Europe; Frederik Klinke, CEO of APM Terminals Nigeria; and Courage Obadagbonyi, CFO of the Nigerian arm.
Welcoming the delegation at his Abuja office, Minister Oyetola commended APM Terminals for its consistent investment and referred to the company as a benchmark for excellence in terminal operations across Nigeria.
“We’re genuinely impressed by the standard of infrastructure APM Terminals has brought to the Lagos Port Complex, Apapa. Your achievements should set the pace for other terminal operators in the country,” he stated.
The minister made it clear that the $500 million injection must align with the government’s broader vision to modernise ports across the Western corridor, while also pledging that the Eastern ports would not be left behind. “We are committed to a holistic upgrade of all Nigerian ports,” he added.
Oyetola underlined the Federal Government’s plans to deepen the draft levels at Lagos ports to at least 16 metres, allowing larger vessels to berth. This would enhance vessel turnaround times and significantly reduce shipping costs for importers and exporters alike.
He further explained that full port modernisation and automation are underway, with a strong push to collaborate with the Nigeria Customs Service to roll out scanners, thereby reducing the dependency on manual inspections.
“With these upgrades,” Oyetola said, “we’re confident that Nigerian ports will soon stand shoulder-to-shoulder with the best in the world. Our goal is to foster an efficient, transparent, and investor-friendly maritime environment.”
Wikstrom, clearly impressed by Nigeria’s evolving maritime landscape, voiced his optimism during the visit. “This is my first trip to Nigeria, and I’m genuinely encouraged by the scale of opportunity here,” he said. He stressed that as Africa’s largest economy, Nigeria remains a key investment destination for APM Terminals.
Having operated in the country for over two decades, Wikstrom stated the new capital will focus on expanding terminal capacity, boosting cargo handling capabilities, and supporting the Federal Government’s mission to welcome larger vessels to Nigerian shores.
Frederik Klinke, CEO of APM Terminals Nigeria, also lauded the Minister’s leadership and ongoing reforms. He expressed gratitude for the proactive steps being taken to streamline port processes, noting that these reforms are already making a tangible difference.
Klinke revealed APM Terminals’ ambition to be the first terminal operator in Nigeria to fully implement next-generation scanning technology. This would drastically cut down on physical container checks, simplify cargo clearance, and strengthen the overall efficiency and competitiveness of Nigeria’s logistics network.
The visit served as a clear indicator of increasing investor confidence in Nigeria’s marine and blue economy space, buoyed by coherent policies, regulatory reforms, and a renewed focus on infrastructure development under the stewardship of the Federal Ministry of Marine and Blue Economy.
Joining the Minister in welcoming the APM Terminals team were Mr. Olufemi Oloruntola, Permanent Secretary of the Ministry; Dr. Charles Akinola, Chief of Staff to the Minister; and Dr. Charles Okaga, Special Adviser (Technical).