APM Terminals Announces $500 Million Investment in Nigeria’s Maritime Sector

APM Terminals, a subsidiary of Danish shipping giant A.P. Moller-Maersk, has announced plans to invest $500 million in Nigeria’s maritime sector over the next few years. The announcement comes amidst ongoing discussions about the future of Nigeria’s port infrastructure and the need for substantial investment to accommodate growing trade volumes.

The news follows a statement from the President’s special adviser on media and publicity, Ajuri Ngalale, who revealed that Nigeria had secured a $600 million investment to expand port infrastructure. However, A.P. Moller-Maersk later denied any investment commitment, causing some confusion.

In a statement titled “Our Vision For Nigerian Ports and Growth,” APM Terminals CEO Keith Svendsen confirmed the company’s plans to invest heavily in upgrading terminal infrastructure in Apapa. The upgrades aim to support vessels with deeper drafts and require large ship-to-shore cranes, allowing for larger container ships to operate at Nigerian ports.

Svendsen explained that discussions about this investment began with President Bola Tinubu in February and continued in April. He noted that APM Terminals is working closely with the Nigerian government and port authority to solidify these plans. The company is also finalizing a $115 million upgrade project at its Onne terminal to better serve the South-Eastern Nigeria market.

“At APM Terminals, we believe strongly in the future prospects for the Nigerian economy and the long-term opportunities that current economic reforms and international investments will generate,” said Svendsen. “While greenfield terminals like Lekki and Badagry are key for long-term growth, the immediate priority is to upgrade existing port infrastructure, especially in Apapa, to ensure efficient road, rail, and barge connectivity to mainline shipping.”

APM Terminals, which has operated in Nigeria since 2006, has already invested over $600 million in equipment, advanced operational controls, digital interfaces, and extensive employee training. The company employs about 2,500 people directly and indirectly creates jobs for approximately 65,000.

Svendsen emphasized that Nigeria is a key market for APM Terminals in Africa, with the company’s terminals in Lagos and Onne handling about half of the containers entering and exiting the country, while A.P. Moller-Maersk vessels transport close to a third. He reiterated APM Terminals’ commitment to supporting Nigeria’s growth, stating, “For us, it’s not only about running efficient terminals but also about contributing to the development of local communities and creating new opportunities for Nigerians.”

APM Terminals’ $500 million investment is expected to play a significant role in boosting Nigeria’s economy, supporting the maritime sector, and creating new jobs for the local workforce.