Bayo Akomolafe 
…provides 10,000 jobs
APM Terminals Apapa has recorded a positive and strong financial performance in 2024, meeting and exceeding the Earnings Before Interest and Taxes (EBIT) target.
Sunday Telegraph learnt that performance was driven by strong volumes as imports increased by 13 per cent and exports increased by 10 per cent.
In Apapa, Kano and Onne, the terminal operator lifts about half of Nigeria’s containerised trade and provides direct and indirect employment to more than 10,000 Nigerian families.
Globally, APM Terminals also recorded the best financial year as a result of strong volume and significant increase in revenue per move.
The Managing Director of APM terminals Apapa, Steen Knudsen explained that the terminal succeeded in a 14 per cent reduction in port stay of vessels, giving shipping lines more time in their rotations for lifting more cargoes or saving fuel.
According to him, the terminal also constructed new yard blocks and Customs’ examination ground.
He said: “I am very happy about our results, underlining the big potential we have, to develop our operations in Nigeria even further. We are proud to be a player in supporting the economic growth of this magnificent country and support job and export opportunities.
“Looking back at the past year, our terminal continued its journey on safety improvements, by a combination of process as well as infrastructure enhancements.”
During 2024, the company celebrated an inaugural call of the largest vessel to ever call Lagos – the COSCO Shipping’s EA Centaurus.
This was initiated to cater for additional export cargo as well as more efficient custom clearance of import cargo.
The Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke added: “I want to take the opportunity to thank all our partners in and around the port for the great cooperation. We are advancing our plans for investment in the Lagos Port in close dialogue with the government.
“Nigeria is an important market and I am happy that we continue developing our relationship to enable growth and economic prosperity.
“The recent $115 million upgrade and expansion project in the West Africa Container Terminal (Onne) demonstrates the company’s intention to invest in Nigeria’s port infrastructure – further paving the way for businesses to grow their export markets exponentially.
“APM Terminals develops and operates advanced container terminals around the world and has been lifting standards in the industry for more than a half century.
The company is an independent division in A.P. Moller-Maersk, and has facilities in 60 key locations in 33 countries around the globe – with several in development.
“The company also employs approximately 33,000 people and in 2024, there were over 27,000 vessel calls and 23.2 million moves in its hubs and gateway terminals.”
