APM Terminals Reaffirms $500m Investment Commitment During Visit to Oyetola

APM Terminals has reiterated it’s commitment to invest $500 million in expanding its areas of operations in Nigeria. 

The company stated this when a high-level delegation, led by its Chief Financial Officer, Mr. Peter Wikstrom, visited the Minister of Marine and Blue Economy, Adegboyega Oyetola in Abuja.

Speaking Oyetola welcomed the commitment by APM Terminals, describing the company as a model for terminal operations in the country. 

“We are pleased with the quality of infrastructure that APM Terminals has delivered at the Lagos Port Complex, Apapa. The standard you have set should be the minimum benchmark for other terminal operators across the country,” Oyetola said. “This fresh $500 million investment must align with our broader agenda to modernize the Western ports and enhance port competitiveness. The Eastern ports will also not be left behind — we are determined to ensure a holistic upgrade of all Nigerian ports.” 

Oyetola emphasised the federal government’s drive to deepen draft levels at the Lagos ports to a minimum of 16 metres, which will allow for the berthing of larger vessels, improve turnaround time, and reduce shipping costs. 

He further disclosed that the government is actively pursuing full port modernization and automation, working in close collaboration with the Nigeria Customs Service (NCS) to deploy scanners and eliminate the heavy reliance on physical cargo examinations. 

In his remarks, Mr. Peter Wikstrom expressed enthusiasm about the ongoing transformation in Nigeria’s maritime sector. 

“This is my first visit to Nigeria, and I’m impressed by the scale of opportunity here,” he said. He said Nigeria, as Africa’s largest economy, is a strategic investment destination for APM Terminals. 

Wikstrom said APM Terminals has operated in Nigeria for over 20 years, and sees a promising future for the country. 

He affirmed that the fresh investment will be channelled towards expanding terminal capacity, enhancing cargo handling efficiency, and supporting the Federal Government’s goal of attracting larger vessels to Nigerian ports. 

Also speaking, CEO of APM Terminals Nigeria, Mr. Frederik Klinke, thanked the Honourable Minister for his commitment to reforms in the maritime sector. He expressed appreciation to the Honourable Minister for his leadership and the strong encouragement he has provided to investors. 

He said the Minister’s efforts to remove procedural bottlenecks at the port are already yielding results, “and we are proud to be part of the journey to transform Nigerian ports.”