APM Terminals to invest 500 million dollars in Apapa port

L-R: Fredrick Klinke , CEO APM Terminals, Nigeria, Mr Koye Edu, a member of the company’s board, Global CEO of APM Terminals, Mr. Keith Svendsen, President Bola Ahmed Tinubu, Minister of Marine and Blue Economy, Adegboyega Oyetola, minister of Trade and Investment, Dr. Doris Uzoaka-Anite and minister of Transportation, Senator Said Alkali when Oyetola led the APM Terminal team to visit the President at the Presidential Villa, Abuja on Thursday.

as Oyetola reinstates commitment to make Nigeria choice destination for maritime investment

APM Terminals has expressed readiness to invest 500 million dollars in Apapa port to make it one of the biggest in Africa.

Global CEO of APM Terminals, Mr. Keith Svendsen, disclosed when he visited the minister of Marine and Blue Economy, Adegboyega Oyetola, on Thursday, February 8, 2024 in Abuja.

Accompanied by Fredrick Klinke, CEO APM Terminals, Nigeria and Koye Edu, a member of board of the company, Svendsen noted that in the last one year, the Onne ports has been doing better that the Durban ports, adding that at the moment, the turnaround time in Onne had been reduced by 65 percent.

Responding, the minister reinstated the government’s commitment to mordenise ports in the country so as to reverse the current trend that makes other ports in Africa more attractive than the ones of Nigeria.

Oyetola assured the group of the support of his ministry, saying “We have resolved to modernise the ports, we are only looking at funding strategies. We have resolved to increase the drought level of the Apapa and Tincan ports from the current 13.5 to 16.5 percent to allow bigger vessels to berth so that we can reverse the current trend that is making other ports more attractive than ours.

“We are excited about this potential investment. We will be glad to have the specifics soonest so we can know the areas you want to invest in, so we can make progress. I can assure you, you have a partner in us.”

Earlier in the day, Mr. Keith Svendsen held a meeting with President Bola Ahmed Tinubu, which was attended by Oyetola, his counterparts in the Transportation Ministry, Senator Saidu Alkali, and that of Trade and Investment Ministry, Dr. Doris Uzoka-Anite.

From left: Board member APM Terminals, Mr. Koye Edu, Minister of Marine and Blue Economy, Adegboyega Oyetola, Global CEO of APM Terminals, Mr. Keith Svendsen and CEO APM Terminals, Nigeria, Fredrick Klinke during a visit to the Minister in Abuja on Thursday.

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