APM Terminals Set To Invest $500m In Nigeria

The Chief Executive Officer of APM Terminals, Keith Svendsen has disclosed plans to invest more than $500m in Nigerian ports by his company. Svendsen, who reiterated the company future investment in Nigeria, in a statement, noted that APM Terminals has intensified talks with the administration of President Bola Tinubu and the Nigerian Ports Authority (NPA) to concretise the investment plan.

According to him, “That is why earlier this year, I publicly talked about the proposal to invest more than $500m that we have discussed with President Bola Tinubu in February, and which we further elaborated in late April. It should go hand-in-hand with a long-term partnership.

“For us in APM Terminals, it is important that we not only operate highly efficient terminals, but also play a role in the development of the local communities to bring in opportunities for growth and new prospects for Nigerians."

For APM Terminals, Svendsen stated that Nigeria is a key market in Africa and the company is proud of the central role that it plays in enabling containerised trade between the country and the rest of the world.

“A.P. Moller-Maersk has been present in Nigeria for more than 35 years and our vessels have been serving the country essentially since Independence. Today, our two container terminals in Lagos and Onne handle about half of the containers going in and out of Nigeria, and our vessels transport close to a third APM Terminals have been operating in Nigeria since 2006 and have invested more than $600m during this period," he said.