Badagry Port, APM Terminals sign MoU to develop Badagry deep seaport

APM Terminals has signed an MoU with Badagry Port Development Limited to explore the development of the proposed Badagry Deep-Seaport in Lagos Stay connected via Google News APM Terminals has signed a memorandum of understanding with Badagry Port Development Limited to explore the development of the proposed Badagry Deep Seaport in Lagos. The agreement was signed in Copenhagen, Denmark, on Monday, during a visit by Adegboyega Oyetola, minister of marine and blue economy, and a federal government delegation. The ministry of marine and blue economy said the parties will enter negotiations on the project, with APM Terminals expressing its commitment to carrying it forward. The MoU was signed by Vincent Clerc, group chief executive officer of A.P. Moller-Maersk, for APM Terminals, and Didi Ndiomu, managing director of Badagry Port Development Limited and Quinn McGrath Marine and Environmental Services Limited. The minister said the greenfield project is expected to add deepwater capacity, accommodate larger container vessels and create transshipment opportunities for Nigeria and the wider West African market. Oyetola said the federal government was committed to strengthening maritime infrastructure and creating an enabling environment for 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,' he said. The minister said partnerships with global terminal operators on greenfield developments such as Badagry port were central to the government's plan to position Nigeria as a trade and logistics hub in West Africa. Oyetola's delegation and APM Terminals also discussed extending the company's concessions at the Lagos Port Complex, Apapa, and the West Africa Container Terminal , Onne. Igor van den Essen, managing director, Africa and Europe, APM Terminals, said the company's investments in its existing concessions and the proposed Badagry development would support Nigeria's role as a regional trade hub. 'Additionally, developing Badagry as a greenfield project will further ease congestion in city ports and further open new opportunities,' he said. Van den Essen said APM Terminals welcomed the government's ambition to expand trade, attract investment and strengthen Nigeria's position as a maritime gateway in West Africa. He said public-private partnerships could drive long-term investment, improve the business environment and boost competitiveness. '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,' he said. Also, the minister said the port would complement existing facilities by supporting larger vessels and increased cargo volumes. Oyetola said Badagry could also strengthen Nigeria's capacity as a regional transshipment hub by handling cargo destined for other West and Central African markets.