APM Terminals Nigeria has revealed its intention to inject $500 million into the nation’s economy through the maritime sector in the upcoming years. This announcement comes amidst recent controversies surrounding reported investments in port infrastructure expansion.
In a statement titled “Our Vision For Nigerian Ports and Growth,” Keith Svendsen, the CEO of APM Terminals, highlighted the company’s plans to undertake necessary terminal upgrade investments in Apapa. This initiative aims to provide access to vessels with deep draft and accommodate large ship-to-shore cranes.
Svendsen clarified that discussions regarding the investment were held with President Bola Tinubu in February and subsequently intensified in April. The company is working closely with the administration and port authority to solidify these plans.
“We believe that Lagos, as the main port, needs further investments to cater for increasing trade volumes and to attract large container vessels,” stated Svendsen. “Our proposed investment aims to upgrade existing port infrastructure in Apapa, enhancing road, rail, and barge networks connectivity to mainline shipping.”
The CEO emphasized the company’s commitment to continuously improving import and export opportunities for Nigeria, creating jobs, and diversifying local opportunities. Svendsen stressed the importance of long-term partnerships and contributing to the development of local communities.
Nigeria holds significant importance to APM Terminals in Africa. The company has been operating in the country for over 35 years, handling about half of the containers entering and leaving Nigeria through its two container terminals in Lagos and Onne. APM Terminals has invested over $600 million in Nigeria since 2006, employing approximately 2,500 people directly and indirectly creating employment for about 65,000 individuals, mostly Nigerians.
