‘WE BELIEVE STRONGLY IN THE NIGERIAN ECONOMY’ – MAERSK CONFIRMS PLANS TO INVEST $500 MILLION IN THE PORT SECTOR.

Babatunji Wusu –

AP Moller-Maersk, a Danish shipping and logistics corporation, has announced plans to invest more than $500 million in modernizing Nigeria’s port facilities.

The proposed partnership between APM Terminals and the Federal Government to invest in the country’s port sector has sparked controversy.

However, Keith Svendsen, Chief Executive Officer of APM Terminals, stated in a statement titled “Our Vision For Nigerian Ports and Growth” that APMT is confident in the Nigerian economy’s future prospects, emphasizing that it is nearing completion of a USD 115 million upgrade project in Onne Rivers State.

According to Svendsen, AP Moller-Maersk has been in Nigeria since 2006, investing $600 million in equipment acquisitions such as trucks and container cranes, enhanced operational controls, digital interfaces, and significant employee training.

Svendsen stated that the new investment aims to expand the terminal’s capacity and capabilities to serve the growing south/eastern Nigeria market. The Apapa port provides Nigerian importers and exporters with unique access to international markets via road, rail, and waterways, including barges.

He stated that Nigeria is a vital market in Africa, and APMT is pleased of its central position in facilitating containerized trade between the country and the rest of the world.