From Joke Falaju, Abuja
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has lauded APM Terminals’ renewed investment commitment of $500 million to expand port infrastructure and $10 million for cargo scanning technology.
Oyetola made the remarks in Abuja while receiving a high-level delegation from APM Terminals, which included senior global and local executives.He emphasised that the fresh $510 million investment must align with the Federal Government’s broader vision to modernise the Western ports and raise their competitiveness while assuring that Eastern ports will also receive due attention as part of a holistic national upgrade of all Nigerian ports.
The minister expressed the government’s pleasure with the quality of infrastructure that APM Terminals has delivered at the Lagos Port Complex, Apapa, noting that the standard set by the company should be the minimum benchmark for other terminal operators across the country.
Oyetola highlighted ongoing efforts to deepen the draft levels at Lagos ports to at least 16 metres, which will allow for larger vessels, reduce turnaround time and significantly cut shipping costs.
He further disclosed that the government is working closely with the Nigeria Customs Service (NCS) to eliminate physical cargo checks and replace them with automated scanning systems to ensure Nigerian ports soon rank among the best globally.
In his remarks, the Chief Financial Officer of APM Terminal, Mr. Peter Wikstrom, who led the delegation to Abuja, praised Nigeria’s potential and expressed admiration for the Federal Government’s reforms while reaffirming the company’s long-term commitment to its operations.
“Nigeria is a strategic investment destination for us, and we are enthusiastic about the transformation in the maritime sector,” he stated. The Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, expressed gratitude for the minister’s leadership in driving reform.
He also announced that in addition to the $500 million investment for port infrastructure, the company will inject a further $10 million into the acquisition and deployment of advanced cargo scanners at Apapa Port, which would dramatically reduce cargo dwell time and expedite clearance processes.
Klinke noted that the company is working closely with the NCS to become the first terminal operator in Nigeria to fully deploy advanced scanning systems, thereby minimising physical container checks and improving logistics efficiency.
