APM Terminals to invest over N725bn in Apapa port

The owners of APM Terminals have expressed their readiness to invest half a billion dollars, the equivalent of (725,450,000,000.00) in Apapa port to make it one of the biggest in Africa.

The company’s Global Chief Executive Officer, Mr. Keith Svendsen disclosed this when he visited President Bola Ahmed Tinubu and the Minister of Marine and Blue Economy, Adegboyega Oyetola in Abuja. 

Mr. Oyetola reinstated the federal government’s commitment to mordenise ports in the country so as to reverse the current trend that makes other ports in Africa more attractive than the ones of Nigeria.

The APM group had earlier held a meeting with President Bola Ahmed Tinubu, which was attended by Oyetola, his counterparts in the Transportation ministry, Senator Saidu Alkali and that of Trade and Investment ministry, Dr. Doris Uzoka-Anite.

During the meeting, the minister highlighted some of the modernisation plans of the government with regards to the ports.

Mr. Svendsen, who was accompanied by Fredrick Klinke , CEO APM Terminals, Nigeria and Koye Edu, a member of board of the company, the group noted that in the last one year, the Onne ports has been doing better that the Durban ports, adding that at the moment, the turnaround time in Onne had been reduced by 65 percent.

Responding, Oyetola, flanked by the ministry’s Permanent Secretary, Mr

. Olorunola Olufemi, and the Managing Director, National Inland Waterways Authority, NIWA, Alhaji Bola Oyebamiji, assured the group of the support of his ministry.

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