APM Terminals is engaging in discussions with the government for a significant upgrade at its Apapa terminal.
Keith Svendsen, the Chief Executive Officer of APM Terminals, disclosed the company’s ambitious plans aimed at accommodating vessels with deep drafts and large ship-to-shore cranes.
The upgrade is part of APM Terminals’ long-term vision to bolster import and export opportunities in the country, create employment, and diversify local opportunities.
Svendsen emphasized the importance of fortifying existing port infrastructure, especially in Lagos, to manage increasing trade volumes effectively.
“While greenfield terminals like Lekki and later on Badagry would support economic growth in the long run, the more urgent requirement is in our view to upgrade the existing port infrastructure,” Svendsen commented.
The proposed upgrades seek to facilitate smoother operations, providing seamless connectivity through road, rail, and barge networks to mainline shipping.
Svendsen highlighted the unique position of the Apapa port in offering access to international markets for Nigerian importers and exporters, leveraging not only road but also rail and waterways, utilizing barges.
APM Terminals has been a pivotal player in Nigeria’s maritime sector for close to two decades. The company’s commitment to the nation’s economic growth is underscored by its proposed investment of over $500 million, subject to a long-term partnership with the government.
The Apapa terminal is a vital gateway for trade, handling a significant portion of Nigeria’s container traffic.
Furthermore, APM Terminals’ operations in Lagos and Onne collectively manage about half of the containers in Nigeria, demonstrating their pivotal role in the country’s logistics landscape.
The proposed upgrades signify APM Terminals’ dedication to supporting Nigeria’s economic reforms and attracting international investments.
The company has already invested over $600 million since its inception in Nigeria in 2006, directly employing approximately 2,500 Nigerians and indirectly contributing to employment for about 65,000 individuals.
“At APM Terminals, we believe strongly in the prospects for the Nigerian economy and the long-term opportunities that the current economic reforms and invitation for international investments will generate,” Svendsen affirmed.
As talks between APM Terminals and the government progress, stakeholders are optimistic about the positive impact of the proposed terminal upgrades on Nigeria’s maritime sector and overall economic development.