• Seeks deeper investment partnerships
•IFC sending a team to explore scalable investment in energy, livestock, housing
• Tinubu seeks decentralisation of energy systems and transmission infrastructure in Africa
Deji Elumoye in Abuja
President Bola Tinubu’s economic and investment drive received a boost on Thursday, as world-class port operator, APM Terminals, pledged a $600 million investment in Nigeria’s maritime sector. Regional President, APM Terminals Africa-Europe, Igor van den Essen, disclosed this when he led other executives to a meeting with President Tinubu on the side-lines of the ongoing Africa CEO Forum in Kigali, Rwanda.
The APM delegation included Head of Investments, APM Terminals, Martijn Van Dongen, and CEO, APM Terminals Nigeria, Frederik Klinke.
Essen said the proposed investments will be deployed in Apapa port modernisation, logistics infrastructure, and long-term private-sector investment in Nigeria’s maritime sector.
Presidential spokesperson, Bayo Onanuga, in a statement, quoted Tinubu as welcoming
the investments, emphasising that Nigeria is repositioning itself for greater competitiveness through ongoing economic reforms and infrastructure modernisation.
He said the country was determined to move beyond structural bottlenecks and outdated systems, stressing the need for advanced technology, faster cargo processing, and improved operational efficiency across the nation’s ports.
The president emphasised that Nigeria possessed the market scale, talent base, and economic potential to support globally competitive maritime and logistics infrastructure investments. He called on other investors to take advantage of Nigeria’s reform outcomes.
Earlier, Essen lauded Tinubu’s reform agenda and policy direction, which had strengthened investor confidence and created renewed momentum for long-term infrastructure investments.
He described Nigeria as a strategic stronghold within its African operations, referencing over 20 years of collaboration and substantial existing investments in the country’s port ecosystem.
The APM Terminals boss reaffirmed his company’s commitment to expanding investments in Nigeria. He disclosed plans to support the development of world-class terminal infrastructure and technology-driven port operations.
He also commended Tinubu for establishing the National Single Window (NSW), which had streamlined trade procedures, improved Customs coordination, and reduced delays in cargo clearance.
In another meeting with Winme Group executives, Tinubu called for deeper investment partnerships to unlock Nigeria’s opportunities in logistics, mining, shipping, and integrated infrastructure development.
He stressed the need for integrated investments linking ports, transport systems, processing facilities, and export infrastructure to drive industrial growth and competitiveness.
The Winme Group delegation expressed confidence in Nigeria’s long-term investment potential, having closely followed Tinubu’s reforms.
Similarly, International Finance Corporation (IFC) said it would to send a mission to Nigeria to explore scalable investment structures that could unlock private capital into the sector. Managing director of the corporation, Diop Makhtar, announced this in Kigali, on Thursday, during a meeting with Tinubu on the side-lines of the 13th Africa CEO Summit.
Makhtar, who led an IFC delegation that included Ethiopis Tafara, Regional Vice President, Africa, and Dahlia Khalifa, Director, Central Africa and Nigeria, IFC, said IFC was interested in discussing modalities for collaboration with Nigeria in energy, housing, and livestock production.
He lauded Tinubu for the bold reforms initiated by his administration, especially the removal of the fuel subsidy and the harmonisation of the exchange rate.
Makhtar described Nigeria’s reform process as courageous and transformative, saying it sends a strong signal to international investors on the country’s commitment to difficult but necessary reforms.
He stated, “President Tinubu, you have been so courageous in removing the subsidy. When you did it, I said to myself, President Tinubu took the bull by the horns.”
Makhtar said local currency facilities and banking partnerships, including structures involving Nigerian financial institutions, such as Access Bank, could strengthen efforts towards interstate financial integration, ease trade, and enhance business across the continent.
He said African leaders faced common development challenges and must collectively drive “African Renaissance” built around strong African institutions and regional economic champions.
At the meeting, Tinubu reaffirmed Nigeria’s openness to harnessing private capital for institutional development.
He stated that it had become imperative for African pension funds to evolve into strategic development finance instruments capable of supporting major infrastructure and productive-sector investments.
The president also said African leaders, as well as the private sector, must focus on mobilising African institutional capital to finance infrastructure, energy transition, and long-term economic transformation across the continent.
He said that was fundamental to the realisation of the continental effort to upscale development and lift Africa out of its present socio-economic challenges.
Tinubu said the continent must also focus on decentralising energy systems and transmission infrastructure to attract private-sector investment, including strengthening regional interconnectivity and transmission lines as part of Africa’s long-term industrialisation agenda.
He said, “If you want Africa to leapfrog, then energy transmission and decentralisation are important. The funding gap is there, and we must work together.”
The meeting discussed mechanisms for using institutional investors, local currency financing structures, and swap arrangements to deepen infrastructure funding.
