Tinubu Secures $600m Deal To Upgrade Apapa Port

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