Nigeria Signs MoU With APM Terminals To Develop Badagry Deep-Seaport

Nigeria Signs MoU With APM Terminals to Develop Badagry Deep-Seaport The Federal Government has taken a major step towards developing the proposed Badagry Deep-Seaport in Lagos after APM Terminals signed a Memorandum of Understanding MoU to explore the development of the major greenfield port project. The agreement was signed in Copenhagen, Denmark, on September 7, 2026, during a Federal Government delegation led by the Minister of Marine and Blue Economy, Adegboyega Oyetola. The MoU was signed by A.P. Moller–Maersk Group Chief Executive Officer, Vincent Clerc, on behalf of APM Terminals, and the Managing Director of Badagry Port Development Limited and Quinn McGrath Marine and Environmental Services Limited, Didi Ndiomu. Under the agreement, APM Terminals and its partners will enter into exclusive negotiations to explore the development of the proposed port, with the global terminal operator expressing its commitment to taking the project forward. The proposed Badagry Deep-Seaport is a $2.5 billion project designed to expand Nigeria’s deepwater port capacity, accommodate larger container vessels and create new opportunities for transshipment serving Nigeria and the wider West African market. The project is also expected to complement existing port infrastructure by providing an additional maritime gateway capable of handling increased cargo volumes while helping to ease congestion at ports located within densely populated parts of Lagos. APM Terminals said developing Badagry as a greenfield port could help reduce congestion in existing city ports and create new opportunities for Nigeria to strengthen its position as a major trade and logistics hub in West Africa. Minister Oyetola said the agreement reflects the Federal Government’s commitment to modernising Nigeria’s maritime infrastructure and creating an environment capable of attracting long-term private-sector investment. He said partnerships with major global terminal operators are central to the government’s ambition of positioning Nigeria as a leading trade and logistics hub in West Africa. The project is being pursued under a public-private partnership framework. The Federal Executive Council approved the concession of the Badagry Deep-Seaport in 2022 under a Build, Own, Operate and Transfer model, with the Infrastructure Concession Regulatory Commission providing regulatory guidance. Beyond the proposed Badagry development, the discussions in Denmark also covered APM Terminals’ existing operations in Nigeria, including its concessions at the Lagos Port Complex in Apapa and the West Africa Container Terminal in Onne.

APM Terminals said it remains interested in supporting Nigeria’s long-term economic growth and strengthening the country’s role as a regional trade hub.The Badagry project is expected to create new investment opportunities, strengthen supply-chain capacity and potentially generate significant economic activity during its development and operational phases.The project has also been projected to generate more than $53 billion over its 45-year concession period, For the Federal Government, the agreement represents another effort to unlock Nigeria’s blue economy by attracting international capital, improving port infrastructure and expanding the country’s capacity to participate more competitively in global maritime trade. If negotiations progress successfully, the Badagry Deep-Seaport could become an important addition to Nigeria’s maritime infrastructure and strengthen Lagos’ position as a major gateway for trade across Nigeria and the wider West African region.