APM Terminals has signed a Memorandum of Understanding (MoU) to explore the development of Badagry Port in Nigeria.
The agreement was signed during a visit to Denmark by Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola.
It commits the parties to exclusive negotiations over the proposed greenfield port project.
The MoU was signed in Copenhagen by Vincent Clerc, Group CEO of A.P. Moller – Maersk, on behalf of APM Terminals.
Didi Ndiomu, Managing Director of Badagry Port Development Ltd and Quinn McGrath Marine and Environmental Services Ltd, signed the agreement on the other side.
The proposed development would provide deepwater port capacity in Nigeria.
According to APM Terminals, this could allow larger container vessels to call in the country. It could also create new transshipment opportunities in West Africa.
The company said the project could support trade growth and improve supply chain resilience.
The Badagry agreement formed part of wider discussions between APM Terminals and the Nigerian delegation.
The parties also discussed extending APM Terminals’ existing port concessions at Apapa and the West Africa Container Terminal in Onne.
“APM Terminals is keen to contribute to Nigeria’s economic growth and position as a trade hub in West Africa,” said Igor van den Essen, Managing Director of Africa & Europe at APM Terminals.
He added that further investment in Apapa and Onne, together with the proposed Badagry development, could support Nigeria’s port capacity.
According to van den Essen, developing Badagry could also help ease congestion at existing city ports.
APM Terminals said the project could strengthen Nigeria’s position as a maritime gateway for West Africa.
However, the MoU represents an agreement to explore the development through exclusive negotiations. No final investment decision, construction timetable or investment value was announced.
“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,” Ndiomu said.
