APM Terminals signs MoU to develop Badagry deep seaport

APM Terminals has signed a memorandum of understanding (MoU) to explore the development of the proposed Badagry deep seaport as the federal government intensifies efforts to attract investment into Nigeria’s maritime sector.

Bolaji Akinola, special adviser to the Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this in a statement on Tuesday in Lagos.

Mr Akinola said the MoU was signed in Copenhagen, Denmark, on Monday during a visit led by Mr Oyetola and a federal government delegation.

He said Vincent Clerc, group chief executive officer of A.P. Moller-Maersk, signed on behalf of APM Terminals, while Didi Ndiomu signed for Badagry Port Development Limited, and Quinn McGrath signed for Marine and Environmental Services Limited.

According to him, the agreement commits the parties to exclusive negotiations on the development of the Badagry port, with APM Terminals pledging to advance the greenfield project towards financial close.

Mr Oyetola said the federal government remained committed to modernising maritime infrastructure and creating an enabling environment for long-term private-sector investment in the nation’s ports.

“Our engagement in Denmark underscores our commitment to unlocking the blue economy.

“Partnering with global operators on Badagry is central to President Tinubu’s vision for Nigeria as West Africa’s hub,” he said.

The minister and the delegation also held discussions with senior Danish government officials and stakeholders in the Danish maritime and logistics sector.

Mr Akinola said the discussions included the possible extension of APM Terminals’ concessions at the Lagos Port Complex, Apapa, and the West Africa Container Terminal (WACT), Onne, to ensure continuity of operations.

Mr Clerc said the proposed Badagry project would provide additional deep-water capacity for…