Global port operator APM Terminals has unveiled plans to invest an additional $600 million in Nigeria, signalling renewed investor confidence in the country’s maritime and logistics sector. The announcement was made during a bilateral meeting with President Bola Tinubu on the sidelines of the Africa CEO Forum in Kigali, Rwanda, on Thursday.
Presidential spokesman Sunday Dare told journalists that the commitment emerged during talks between Tinubu and the company’s senior leadership, centred on expanding Nigeria’s infrastructure and port capacity. According to Dare, APM Terminals — which manages nearly half of Nigeria’s containerised trade through facilities in Apapa, Onne and Kano — reaffirmed its long-term commitment to the country.
The fresh investment comes less than two years after the company launched a $115 million upgrade and expansion project at the West African Container Terminal in Onne in September 2024. Dare described the latest commitment as one of the biggest single investments in Nigeria’s port and logistics industry since the sweeping port reforms of 2006.
He said Tinubu’s engagements at the Africa CEO Forum had attracted strong investor interest, with the President holding a series of high-level meetings after participating in the summit’s plenary session. Among the key meetings was a session with executives of the International Finance Corporation, focused on energy, housing and transport infrastructure.
“They will be sending a mission to Nigeria as soon as the President approves it,” Dare said. “The IFC is sending a mission to Nigeria, and you know what that means, they are looking at four critical areas that need support.” He added that the corporation had expressed interest in partnering with the administration on energy investments and power infrastructure.
“When it comes in, you have employment for our people, they will pay taxes, the factory lines will come alive. The benefits of such investment eventually percolate through the economy,” he said. Tinubu also met with a consortium of solid minerals investors with operations in Guinea, who are now exploring opportunities in Nigeria.