Tinubu Secures $600m Deal To Upgrade Apapa Port

President Bola Tinubu has secured a fresh $600 million investment commitment from global port operator APM Terminals for the modernization of Apapa Port and other major logistics infrastructure projects in Nigeria.

The investment pledge was made during Tinubu’s meeting with executives of APM Terminals on the sidelines of the ongoing Africa CEO Forum in Kigali, Rwanda.

The delegation from the global terminal operator was led by Regional President for Africa-Europe, Igor van den Essen, alongside the company’s Head of Investments, Martijn Van Dongen, and CEO of APM Terminals Nigeria, Frederik Klinke.

According to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the proposed investment will focus on Apapa Port modernization, logistics infrastructure expansion and long-term private sector participation in Nigeria’s maritime industry.

President Tinubu welcomed the investment and stated that his administration’s ongoing economic reforms were positioning Nigeria as a globally competitive destination for infrastructure and maritime investments.

The President said the Federal Government was committed to eliminating structural bottlenecks affecting port operations by introducing modern technology, faster cargo processing systems and improved operational efficiency across Nigerian ports.

According to him, Nigeria possesses the market size, strategic location and economic potential required to support world-class maritime and logistics infrastructure projects.

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Tinubu also encouraged more international investors to take advantage of Nigeria’s ongoing economic reforms and investment opportunities.

Speaking during the meeting, van den Essen praised Tinubu’s economic reforms and policy direction, stating that the administration had restored investor confidence and created fresh momentum for long-term infrastructure investments in Nigeria.

The APM executive described Nigeria as one of the company’s most strategic markets in Africa, citing more than 20 years of operations and substantial investments in the country’s maritime sector.

He reaffirmed APM Terminals’ commitment to expanding investments in Nigeria through the development of advanced terminal infrastructure and technology-driven port operations.

Van den Essen also commended the Federal Government for introducing the National Single Window (NSW) initiative, which he said had improved trade procedures, enhanced Customs coordination and reduced delays in cargo clearance at Nigerian ports.

Industry experts believe the fresh investment could significantly reduce congestion at Apapa Port, improve cargo turnaround time and strengthen Nigeria’s position as a major maritime and logistics hub in West Africa.

The investment announcement forms part of Tinubu’s broader push to attract foreign direct investment into key sectors of the economy.

In another meeting during the Africa CEO Forum, the President held talks with executives of Winme Group, where he called for more investment partnerships in logistics, mining, shipping and integrated infrastructure development.

Tinubu stressed the importance of coordinated investments linking ports, transport systems, export infrastructure and industrial processing facilities to boost economic growth and competitiveness.

The President also met with officials of the International Finance Corporation (IFC) to discuss potential investments in energy, housing, transportation and infrastructure projects in Nigeria.

Presidency officials disclosed that the IFC is expected to send an investment mission to Nigeria to further explore opportunities created by the government’s economic reforms.

The planned modernization of Apapa Port is expected to improve operational efficiency, enhance trade activities and support Nigeria’s ambition to become a leading export and trade gateway in Africa.

Tinubu Secures $600m Deal To Upgrade Apapa Port

BUA Chairman Recounts South Africa Visa Denial, Calls for African Travel Reform

Chairman of BUA Group, Abdul Samad Rabiu, has recounted how he was once denied entry into South Africa because his visa had expired by just one day, while claiming that European travellers were allowed entry at the same border point without visas.

Rabiu made the disclosure on Thursday during his keynote address titled “Africa at Scale: Capital, Policy, and the Architecture of Growth” at the 13th Africa CEO Forum held at the Kigali Convention Centre in Rwanda. The high-level gathering brought together over 2,000 CEOs, investors, heads of state, and policymakers from more than 75 countries under the theme “Scale or Fail: Why Africa Must Embrace Shared Ownership.”

According to Rabiu, the experience highlights what he described as a contradiction in Africa’s trade and mobility systems, where African citizens often face stricter entry requirements compared to non-Africans entering the continent.

“I was denied entry into South Africa because my visa had expired by one day,” he told the forum. “Yet right there, at the same entry point, Europeans were being let in without any visa at all.”

He used the anecdote to emphasise broader structural barriers affecting African integration, particularly within the framework of the African Continental Free Trade Area (AfCFTA), which aims to create a single market of over 1.4 billion people but continues to face implementation gaps.

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Rabiu noted that despite policy commitments, businesses still encounter inconsistent regulations across African borders, including visa restrictions, customs delays, and uneven enforcement of regional trade agreements.

He also referenced BUA Group’s expansion efforts across the continent, saying that while some countries have embraced AfCFTA principles, others remain hesitant or restrictive in practice.

The business leader called for accelerated reforms in areas such as cross-border infrastructure, digital customs systems, industrial corridors, and free movement of people and capital, arguing that these are essential for Africa’s long-term industrial growth and competitiveness.

Rabiu further stressed that economies with strong domestic processing capacity are better positioned to withstand global shocks, citing Nigeria’s expanding refining capacity as an example of resilience-building.

His remarks come amid ongoing efforts by African governments to ease intra-continental travel restrictions. While South Africa has introduced simplified visa processes for Nigerian business travellers in recent years, including multi-entry visa arrangements, implementation across the continent remains uneven.

Data referenced in policy discussions at the forum suggests that only a minority of African routes are currently visa-free, with many travellers still required to obtain advance entry permits, despite African Union commitments to improve mobility under the AfCFTA framework.

The Africa CEO Forum concluded with renewed calls for governments and private sector leaders to deepen cooperation, mobilise capital, and strengthen cross-border investment flows under the rallying theme: “Scale or Fail.”

Rabiu’s comments added to ongoing continental debates about whether Africa’s integration agenda is being slowed by policy inconsistency, administrative bottlenecks, and uneven adoption of agreed trade and mobility reforms.

BUA Chairman Recounts South Africa Visa Denial, Calls for African Travel Reform

Why I Dropped Plans To Buy Arsenal — Dangote

Nigerian billionaire and President of the Dangote Group, Aliko Dangote, has revealed why he abandoned his long-standing ambition to buy English Premier League club Arsenal F.C., despite having the financial capacity to complete the takeover.

Dangote said he was forced to choose between investing in the London football club and focusing on completing his massive industrial project, the Dangote Refinery, which he described as a far more critical national and business priority at the time.

Speaking on his interest in Arsenal, the billionaire admitted he was once very close to pursuing ownership of the club when its valuation was still relatively lower compared to its current multi-billion-dollar worth.

“I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said.

Dangote explained that during the period he considered acquiring Arsenal, he was simultaneously investing heavily in the refinery project, which required enormous capital commitment and long-term focus.

He said the decision ultimately came down to prioritising business stability over luxury investment.

At the time, he noted that Arsenal’s valuation was around $2 billion, and he had to carefully consider whether diverting such funds into a football club would affect his core business operations.

According to him, the refinery project demanded sustained financial discipline, and taking on a high-profile football club ownership could have created unnecessary pressure on his business empire.

Rather than proceed with a takeover, Dangote said he chose to remain a passionate supporter of the club from afar, maintaining his emotional connection without taking on ownership responsibilities.

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“So I decided to continue to support them, watch their games. Any time Arsenal plays, I always wear the jersey. I am a fan. It is better I remain as a fan and continue to fund my business,” he said.

Dangote also pointed out that the club’s financial value has increased significantly over the years, making any potential acquisition far more expensive and less practical than before.

Arsenal, one of the most commercially valuable clubs in world football, has seen its valuation rise into several billions of dollars due to increased broadcasting revenue, sponsorship deals, and improved sporting performance.

The club is currently owned by the Kroenke family through the holding company Kroenke Sports & Entertainment.

Dangote emphasized that his decision was also influenced by the scale of the refinery project, which remains one of the largest industrial investments in Africa.

The refinery, located in Lagos, is expected to significantly reduce Nigeria’s dependence on imported petroleum products and reshape the country’s energy sector.

Business analysts have repeatedly described the project as one of the most ambitious private-sector industrial developments on the continent.

Despite stepping away from ownership ambitions, Dangote reaffirmed his loyalty to Arsenal as a lifelong fan.

His earlier interest in the club generated global attention, especially among African football followers who viewed the possibility of an African billionaire owning a top Premier League side as historic.

However, he now maintains that remaining a supporter is the most practical decision given his ongoing business commitments and the club’s current valuation.

Why I Dropped Plans To Buy Arsenal — Dangote