By Myke Uzendu, Abuja APM Terminals has signed a Memorandum of Understanding (MoU) with Badagry Port Development Limited and Quinn McGrath Marine and Environmental Services Limited to explore the development of the proposed Badagry Deep-Seaport in Lagos State. The agreement was signed in Copenhagen, Denmark, on Monday, during a visit... The post APM Terminals signs MoU for proposed Badagry Deep Seaport appeared first on THE AUTHORITY NEWS .
By Myke Uzendu, Abuja
APM Terminals has signed a Memorandum of Understanding (MoU) with Badagry Port Development Limited and Quinn McGrath Marine and Environmental Services Limited to explore the development of the proposed Badagry Deep-Seaport in Lagos State.
The agreement was signed in Copenhagen, Denmark, on Monday, during a visit by the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, who led a Federal Government delegation to Denmark to strengthen maritime cooperation and attract investment into Nigeria’s port infrastructure, according to a statement, signed by Bolaji Akinola, Special Adviser to the Honourable Minister.
The MoU, signed by A.P. Moller–Maersk Group Chief Executive Officer, Vincent Clerc, on behalf of APM Terminals, and Managing Director of Badagry Port Development Limited and Quinn McGrath Marine and Environmental Services Limited, Didi Ndiomu, commits the parties to exclusive negotiations on the proposed greenfield port project.
APM Terminals expressed its commitment to advancing discussions on the development of the port, which is expected to provide additional deepwater capacity, accommodate larger container vessels and create new transshipment opportunities for Nigeria and the wider West African market.
Speaking on the agreement, Oyetola said the Federal Government was committed to modernising the country’s maritime infrastructure and creating an environment capable of attracting long-term private-sector investment.
“Our engagement in Denmark underscores the Federal Government’s commitment to modernizing Nigeria’s maritime infrastructure and unlocking the full potential of our blue economy,” the minister said.
He added that partnering with global terminal operators such as APM Terminals on strategic greenfield developments remained central to President Bola Ahmed Tinubu’s vision of making Nigeria a major trade and logistics hub in West Africa.
The Badagry development was part of wider engagements between the Nigerian delegation and the Danish government and maritime industry during Oyetola’s visit.
The minister and his delegation also held discussions with APM Terminals on the possible extension of the company’s port concessions at the Lagos Port Complex, Apapa, and the West Africa Container Terminal (WACT), Onne.
APM Terminals’ Managing Director, Africa and Europe, Igor van den Essen, said the company was interested in contributing to Nigeria’s economic growth and strengthening its position as a regional trade hub.
He said long-term investment in the company’s existing concessions at Apapa and Onne, alongside the proposed Badagry greenfield development, could help ease congestion at existing city ports and create new opportunities for trade.
“APM Terminals is keen to contribute to Nigeria’s economic growth and position as a trade hub in West Africa. We believe further investing long-term in our concessions in Apapa and Onne helps doing that, and we were pleased to have a constructive dialogue about this today,” van den Essen said.
He added that the development of Badagry as a greenfield port could further ease congestion and open up new opportunities within Nigeria’s maritime sector.
Van den Essen also welcomed the Federal Government’s ambition to expand trade, attract investment and strengthen Nigeria’s position as a leading maritime gateway in West Africa.
“APM Terminals is encouraged by the Nigerian government’s ambition to expand trade, attract investment, and strengthen the country’s position as a leading maritime gateway in West Africa, and we are proud to play a part in that ambition,” he said.
According to him, public-private partnerships would be critical to delivering the infrastructure required to support economic growth and competitiveness.
“We strongly believe that public-private partnerships help us deliver results that support growth because they drive long-term investment, a better business environment and, thereby, competitiveness in a rapidly developing market,” he added.
For Ndiomu, the signing of the MoU marked the beginning of a new phase in Nigeria’s maritime development.
“Investing in maritime infrastructure and especially in Badagry as a greenfield port project together with APM Terminals is the beginning of Nigeria becoming the true maritime capital of sub-Saharan Africa in full alignment with the government of President Bola Ahmed Tinubu’s ambitious maritime growth strategy,” he said.
The proposed Badagry Deep-Seaport is expected to complement existing Nigerian ports by providing a new deepwater gateway capable of accommodating larger container vessels and handling increased cargo volumes.
The project is also expected to improve supply-chain resilience and strengthen Nigeria’s capacity to serve as a regional transshipment hub, enabling cargo destined for other West and Central African markets to be routed through the facility.
The Federal Government believes the development would further support its broader efforts to position Nigeria as a major maritime, trade and logistics hub in West Africa.
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