President Bola Ahmed Tinubu’s administration secured $600 million to boost Nigeria’s maritime sector.
President Bola Ahmed Tinubu’s administration on Thursday secured a fresh investment commitment of $600 million from global port operator APM Terminals to boost Nigeria’s maritime and logistics infrastructure.
The investment pledge was announced during a meeting between President Tinubu and executives of the company on the sidelines of the ongoing Africa CEO Forum in Kigali, Rwanda.
Regional President of APM Terminals Africa-Europe, Igor van den Essen, who led the delegation, said the funds would be channelled into the modernisation of Apapa Port, expansion of logistics infrastructure, and other long-term private sector investments in Nigeria’s maritime sector.
Other members of the delegation included Head of Investments, APM Terminals, Martijn Van Dongen, and Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke.
Responding, President Tinubu said his administration remained committed to repositioning Nigeria’s economy through reforms, infrastructure renewal, and policies aimed at improving the ease of doing business.
The President noted that Nigeria was determined to eliminate structural bottlenecks and outdated systems hindering port operations, adding that the country required modern technology, faster cargo processing, and greater efficiency across its ports.
He said Nigeria possesses the market size, skilled workforce, and economic potential needed to support globally competitive maritime and logistics investments, urging more foreign investors to take advantage of the ongoing reforms.
Van den Essen commended the administration’s economic reforms, saying they had improved investor confidence and renewed interest in long-term infrastructure investments in Nigeria.
He described Nigeria as a strategic hub in the company’s African operations, citing over two decades of partnership and investments in the nation’s port sector.
The APM Terminals executive also praised the Federal Government’s National Single Window initiative, noting that it had enhanced trade procedures, improved customs coordination, and reduced cargo clearance delays.
Meanwhile, President Tinubu also met with executives of Winme Group, where he called for stronger investment partnerships in logistics, mining, shipping, and integrated infrastructure development.
According to him, Nigeria needs coordinated investments connecting ports, transportation systems, processing facilities, and export infrastructure to boost industrial growth and national competitiveness.
The Winme Group delegation expressed confidence in Nigeria’s long-term investment prospects, citing the administration’s ongoing economic reforms as a major attraction for investors.
