APM Terminals, a Danish shipping company operating in Nigeria, has revealed plans to inject $500 million into the nation’s economy through the maritime sector in the coming years. The announcement comes amid controversy surrounding a reported $600 million investment secured by Nigeria to expand existing port infrastructure.
Despite reports of denial from A.P Moller-Maersk regarding the investment commitment with the federal government, APM Terminals CEO, Keith Svendsen, emphasized the company’s vision for Nigerian ports and growth. Svendsen stated that discussions with President Bola Tinubu in February and April have led to intensified talks with the administration and port authority to solidify plans for terminal upgrade investments in Apapa.
The CEO highlighted the importance of upgrading existing port infrastructure to cater to increasing trade volumes and attract large container vessels. APM Terminals aims to undertake necessary terminal upgrade investments in Apapa to accommodate vessels with deep draft and large ship-to-shore cranes. These plans align with the company’s ambition to continuously improve import and export opportunities, create jobs, and diversify opportunities locally.
Svendsen emphasized APM Terminals’ commitment to contributing to the development of local communities and bringing growth opportunities to Nigerians. He underscored Nigeria’s significance as a key market in Africa for the company, citing APM Terminals’ longstanding presence in the country and substantial investments in equipment, operational controls, digital interfaces, and employee training.
Currently, APM Terminals operates two container terminals in Lagos and Onne, handling approximately half of the containers going in and out of Nigeria. The company employs about 2,500 people directly, with 99% being Nigerians, and indirectly creates employment for about 65,000 individuals, according to a recent socio-economic study.
