APM Terminals’ Global CEO, Mr. Keith Svendsen, has announced plans to invest $500 million in Apapa Port.
Svendsen revealed this during a meeting with Minister of Marine and Blue Economy, Adegboyega, according to the ministry’s official X handle.
The ministry’s X handle post also revealed that the minister stressed the government’s dedication to modernizing Nigerian ports for enhanced competitiveness against other ports across Africa.
During the meeting with Oyetola, APM Terminals officials acknowledged that over the past year, there have been certain improvements in the ports, with particular emphasis on the progress at Onne Port.
The Minister Oyetola of Marine and Blue Economy assured the APM Group of the ministry’s support. He mentioned that the Federal Government had resolved to modernize the ports and were exploring funding strategies.
Additionally, he stated their plan to increase the draft level of Apapa and Tincan ports from 13.5% to 16.5% to accommodate larger vessels.
The minister expressed excitement about the potential investment and requested specific details to facilitate progress. He assured the group that they had a partner in the ministry.
