FG Pledges To Increase Apapa, Tin Can Ports’ Drought Level After N500m Proposed Investment

The federal government has pledged to increase the drought level of the Apapa and Tin Can Lagos Ports from the current 13.5 per cent to 16.5 per cent to allow bigger vessels to berth.

The Minister of Marine and Blue Economy, Adegboyega Oyetola disclosed this while meeting with the top container terminal operator of the APM terminals.

His assertion followed plans by APM Terminals to invest N500m at the Lagos Port Complex Apapa to expand the port and make it one of the largest in Africa.

Oyetola while reacting said, the ministry had hitherto resolved to modernise the ports but was financially constrained while exploring funding strategies.

“We are excited about this potential investment. We will be glad to have the specifics soonest so we can know the areas you want to invest in, so we can make progress. I can assure you that you have a partner in us,” he said.

He further noted that by expanding the nation’s largest port, thereby accommodating bigger vessels to berth, the outcome could reverse the current trend that is making other ports more attractive.

Also speaking, APM Terminals Global CEO, Keith Svendsen noted that the two container terminals managed in Nigeria by APM Terminals – namely APM Terminals Apapa and West Africa Container Terminal (WACT), Onne have both received substantial investments and are among the top terminals in Africa.

The meeting between the Minister and the APM terminals was attended by high-level government officials President Bola Ahmed Tinubu, Minister of Transportation, Senator Saidu Alkali and the Minister of Industry, Trade and Investment, Doris Uzoka-Anita.

Also present along with Svendsen was the Country CEO of APM Terminals Nigeria, Frederik Klinke.