APM Terminals to Invest $600 Million in Nigeria Following Talks With Tinubu at Africa CEO Forum

Nigeria is set to receive a major boost in port and logistics infrastructure as global port operator APM Terminals announced plans to invest an additional $600 million in the country.

The investment commitment was disclosed during a bilateral meeting between President Bola Ahmed Tinubu and senior executives of APM Terminals on the sidelines of the Africa CEO Forum in Kigali, Rwanda.

According to presidential spokesperson Sunday Dare, the meeting focused on expanding Nigeria’s port infrastructure, improving logistics efficiency, and deepening long-term investment partnerships.

APM Terminals Expands Nigeria Operations

APM Terminals currently manages a significant share of Nigeria’s containerized cargo operations through facilities in Apapa, Onne, and Kano. The company reportedly handles nearly half of Nigeria’s container trade and supports more than 10,000 direct and indirect jobs nationwide.

Speaking on the development, Dare described the proposed $600 million expansion as one of the largest port-sector investment commitments in Nigeria since the country’s port privatization reforms began in the mid-2000s.

The company already operates under an existing agreement that runs through 2031 and has continued expanding its footprint in Nigeria’s logistics ecosystem.

In September 2024, APM Terminals launched a $115 million modernization and expansion project at the West African Container Terminal in Onne, Rivers State, aimed at increasing cargo handling capacity and improving operational efficiency.

Tinubu Pushes Investment Drive at Africa CEO Forum

President Tinubu’s participation at the Africa CEO Forum forms part of the administration’s broader investment diplomacy strategy designed to attract foreign direct investment into critical sectors of the Nigerian economy.

The President also held meetings with the International Finance Corporation to discuss investment opportunities in energy, transportation, housing, and infrastructure development.

According to the Presidency, the IFC plans to send a delegation to Nigeria to further assess potential partnership opportunities across key economic sectors.

Sunday Dare noted that such investments could stimulate industrial activity, generate employment, and improve tax revenues for the country.

“When investments come in, factories expand, jobs are created, and economic activities increase across multiple sectors,” he said.

Nigeria Seeks More Infrastructure and Mining Investments

Beyond the port sector, President Tinubu also met with international solid minerals investors exploring opportunities in Nigeria’s mining industry.

The investors, who previously operated in Guinea, are reportedly interested in deploying an integrated investment model that combines mining operations with infrastructure development.

The Presidency said Nigeria’s ongoing economic reforms, exchange rate adjustments, and efforts to improve macroeconomic stability are helping restore investor confidence in Africa’s largest economy.

Nigeria’s Port and Logistics Sector Gains Momentum

Industry analysts say improved port infrastructure could significantly reduce congestion, improve cargo turnaround times, and strengthen Nigeria’s competitiveness as a regional trade and logistics hub.

The additional investment by APM Terminals is expected to support modernization efforts across Nigeria’s maritime sector while boosting trade facilitation and supply chain efficiency.

The Africa CEO Forum, which runs from May 14 to May 15 in Kigali, has attracted thousands of business leaders, policymakers, and investors from across Africa and beyond, with discussions centered on economic growth, infrastructure financing, digital transformation, and regional trade integration.