APM Terminals has signed an agreement to explore the development of the proposed Badagry Deep Seaport in Lagos, potentially bringing one of the world’s largest container-terminal operators into the long-delayed greenfield project.
The agreement was signed Monday in Copenhagen between APM Terminals, part of A.P. Moller-Maersk, and Badagry Port Development Ltd., during a visit by Adegboyega Oyetola, minister of Marine and Blue Economy, to Denmark.
Under the memorandum of understanding, the parties will enter exclusive negotiations on the development of the port, according to the ministry.
Badagry, on the Lagos-Benin border, is planned as a deepwater facility capable of handling larger container vessels and serving as a transshipment hub for cargo moving across West Africa. The Lekki port in Lagos is currently the only port in the country capable of handling such.
APM Terminals already operates container facilities at Apapa and the West Africa Container Terminal in Onne, Rivers State. The company also discussed extending its concessions at both terminals with the Nigerian government during the Denmark visit.
