APM set to invest $500m to modernise Apapa Port, says Oyetola

Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola on Friday revealed APM Terminals’s interest in investing $500million in the transformation of Apapa Port in Lagos.

The Minister tweeted that, “Yesterday marked a pivotal moment as we welcomed Mr. Keith Svendsen, the Global CEO of APM Terminals, who conveyed their profound interest in investing half a billion dollars in the transformation of Apapa Port in Lagos.

“During our discussions, I underscored the unwavering commitment of the government towards the modernization of Nigeria’s ports, positioning them competitively amongst other ports across Africa.

“Following this promising meeting, I had the privilege of convening with @officialABAT to delve deeper into our modernization agenda. Joining us were my colleagues; Minister of Transportation, Senator Saidu Alkali, and Minister of Trade and Investment, Dr. Doris Uzoka-Anite.”

While highlighting the positive strides made, he said the APM Terminals team stated that the significant enhancements achieved at Onne Port, notably reducing turnaround time by an impressive 65per cent.

“Reaffirming our steadfast support for this monumental investment, I outlined our strategic initiatives to enhance the draught levels at both Apapa and Tincan ports, a crucial step towards accommodating larger vessels and fostering increased trade efficiency,” the former governor of Osun stated added.

Back to top button