Denmark Invests $1. 2bn in Nigerian Ports, Eyes Expansion. Lagos, Nigeria — Denmark’s APM Terminals has committed $1.
2 billion to Nigerian port infrastructure, marking a significant investment in the country’s maritime sector.
The move reflects growing foreign confidence in Nigeria’s ports as the nation continues its infrastructure reforms.
According to local reports, the $1.
2 billion figure represents cumulative capital expenditure by APM Terminals since it won the concession for Apapa Container Terminal in Lagos in 2006.
The investment has involved upgrading quays, purchasing cranes, dredging channels, and constructing inland container depots.
The Nigerian Minister of Marine and Blue Economy, Dr.
Adegboyega Oyetola, welcomed the Danish investment, describing it as a testament to Nigeria’s attractiveness as an investment destination. He also urged Danish private sector capital to further invest in the blue economy space, emphasizing the need for ease-of-doing-business reforms.
Denmark’s Ambassador to Nigeria, Jens Ole Bach Hansen, expressed support for Nigeria’s maritime sector but emphasized that any expansion would be driven by the private sector.
He highlighted the importance of reforms in creating a conducive environment for investment.
The investment comes as Nigeria seeks to replicate the APM Terminals model in other ports, including Lekki Deep Sea, Onne, and Tin — Can Island.
The government has also rebranded the maritime sector under the Ministry of Marine & Blue Economy, launched in 2023.
While the government is keen to showcase the APM Terminals investment as a success story, some domestic Nigerian commentators are concerned that port congestion, customs delays, and foreign exchange liquidity issues could deter further investment.
The government, however, is hopeful that the Danish investment will serve as a catalyst for further growth in the sector. Further details regarding the expansion plans and the impact of the investment on Nigeria’s maritime sector are expected to be announced in the coming weeks.
Source: Africa.
*Additional reporting by ImNews | Sources consulted: 5*
