Global port operator, APM Terminals, has announced plans to invest an additional $600m in Nigeria following high-level discussions with President Bola Tinubu on the sidelines of the Africa CEO Forum in Kigali, Rwanda.
The fresh investment commitment was disclosed during a bilateral meeting between the Nigerian delegation and the top management of the company on Thursday, as the Federal Government continues efforts to attract foreign direct investment into critical sectors of the economy.
According to the Special Adviser to the President on Media and Publicity, Sunday Dare, the meeting focused heavily on expanding Nigeria’s port infrastructure, improving logistics operations and strengthening trade capacity across the country.
Dare explained that APM Terminals, which currently handles nearly half of Nigeria’s containerised cargo operations through its facilities in Apapa, Onne and Kano, reaffirmed its long-term commitment to the country while unveiling plans for another massive round of investment.
He noted that although the company already has an operational agreement in Nigeria running until 2031, its leadership informed President Tinubu that it was prepared to inject an additional $600m into the Nigerian economy through expanded port and logistics projects.
The presidential aide described the development as one of the most significant investment pledges in Nigeria’s maritime sector since the port concession reforms introduced in the mid-2000s.
APM Terminals currently operates major logistics and cargo facilities across Nigeria and, alongside Barging Marine Solutions Ltd., maintains an exclusive lease arrangement extending to September 2031 for the expansion of maritime and logistics services around the Apapa corridor.
The company’s operations in Apapa, Onne and Kano reportedly account for approximately half of Nigeria’s container trade while also supporting the livelihoods of more than 10,000 Nigerian families through direct and indirect employment opportunities.
In September 2024, the company had already launched a separate $115m expansion and upgrade project at the West African Container Terminal located in Onne, Rivers State, as part of efforts to improve efficiency and cargo handling capacity.
Dare stated that the Africa CEO Forum had opened doors for multiple strategic investment discussions involving Nigeria, adding that President Tinubu moved from the forum’s plenary session into several closed-door meetings with investors and global financial institutions.
Among the key engagements was a meeting with executives of the International Finance Corporation, where discussions centred on possible collaboration in energy, transportation and housing infrastructure.
According to Dare, the IFC signalled strong interest in expanding its support for Nigeria’s economic development agenda and is expected to send an official mission to the country once presidential approval is secured.
He explained that the proposed collaboration would focus on critical sectors capable of stimulating industrial growth, creating employment opportunities and reviving production activities across the country.
The presidential spokesman further stressed that such investments would have long-term economic benefits, noting that once factories and infrastructure projects begin operations, they would generate jobs for Nigerians, increase tax revenues and stimulate wider economic activities across several sectors.
Tinubu also met with a consortium of solid minerals investors with years of operational experience in Guinea who are now considering expanding into Nigeria’s mining sector.
Dare revealed that the investors are interested in deploying an integrated investment model that combines mining activities with infrastructure development, a strategy expected to improve both resource extraction and supporting facilities.
Speaking on concerns over when ordinary Nigerians would begin to feel the direct impact of the investment discussions and agreements, Dare acknowledged that international partnerships and bilateral investment arrangements often require time before tangible results emerge.
He explained that after memoranda of understanding are signed, implementation processes usually involve joint commissions and technical teams from both countries working through operational frameworks and regulatory details before projects can fully commence.
Despite the waiting period, he maintained that the engagements taking place at the Africa CEO Forum demonstrate growing international confidence in Nigeria’s economy and reform policies.
According to him, investors continue to express optimism about Nigeria’s economic direction, repeatedly citing recent reforms and improved macroeconomic stability as major reasons behind their renewed interest in the country.
The Africa CEO Forum, which is being held in Kigali, Rwanda’s capital city, runs from Thursday to Friday and has attracted top business executives, policymakers and investors from across Africa and beyond.
