Nigeria: APMT Makes $190m Capital Investment In 6 Years

VENTURES AFRICA – At a one-day Greenfield Port Development Summit in Lagos on Thursday, the Managing Director of APM Terminals (APMT), Lagos, Mr Dallas Hampton, disclosed that over 30.4 billion naira ($190 million ) has been invested in automated processes and equipment by the company, over the last six years.

According to a BusinessDay report, Hampton who was represented by APMT’s media consultant, Bolaji Akinola, at the summit organised by Golden Edge Consult and the Nigerian Ports Authority (NPA), stated that the capital investment was a two-phased expansion programme that has resulted in faster cargo clearance, cost effectiveness and corruption reduction at the ports.

“Vessel waiting time is down from 28 days to less than one day, saving Nigeria approximately 30 billion naira ($200 million) annually in congestion fees alone. The biggest contribution of APMT in Apapa has been health, safety and security of port users and cargo,” he said.

According to him, the company maintains an effective safety culture, responsible for the substantial reduction in occupational hazards and the number of fatalities at the terminal.

The managing director also disclosed productivity at the terminal tripled in the last six years. Consequently, the terminal now handles approximately 50 per cent of all container imports into Nigeria.

APMT has commenced the third phase of its expansion programme. The expansion strategy will see it invest almost 21.6 billion naira ($135 million) within the next five years.