The Federal Government of Nigeria and global terminal operator APM Terminals signed a Memorandum of Understanding (MoU) on Monday, September 7, 2026, in Copenhagen to advance exclusive negotiations for the development of the proposed $2.5 billion Badagry Deep-Seaport. The landmark agreement was finalized during an official state visit led by Nigeria’s Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola.
The ceremony took place during bilateral engagements with Danish government officials and maritime executives. The MoU was officially executed by Vincent Clerc, Group Chief Executive Officer of A.P. Moller Maersk (parent company of APM Terminals), and Didi Ndiomu, Managing Director of Badagry Port Development Limited and Quinn McGrath Marine and Environmental Services Limited. ​
The greenfield infrastructure project is designed to expand Nigeria’s deepwater capacity, relieve urban port congestion, and accommodate larger modern container vessels to establish the nation as a transshipment hub for West Africa. Dr. Adegboyega Oyetola (Minister of Marine and Blue Economy) Highlighted that the partnership directly reflects the economic vision of President Bola Ahmed Tinubu.
“Partnering with global terminal operators like APM Terminals to explore strategic greenfield developments such as the Badagry Port is central to President Bola Ahmed Tinubu’s vision of positioning Nigeria as West Africa’s premier trade and logistics hub,” Oyetola stated via a release issued by his Special Adviser, Dr. Bolaji Akinola. Igor van den Essen (Managing Director, Africa & Europe, APM Terminals): Reaffirmed the company’s long-term commercial intent.
“APM Terminals is encouraged by the Nigerian government’s ambition to expand trade, attract investment, and strengthen the country’s position as a leading maritime gateway in West Africa… Developing Badagry as a greenfield project will further ease congestion in city ports and open new opportunities,” van den Essen noted.
Didi Ndiomu (Managing Director, Badagry Port Development Limited) emphasised the transformational nature of the agreement. “Investing in maritime infrastructure, especially in Badagry as a greenfield port project together with APM Terminals, is the beginning of Nigeria becoming the true maritime capital of sub-Saharan Africa,” Ndiomu said. ​
The proposed project operates under the regulatory oversight of the Infrastructure Concession Regulatory Commission (ICRC) on a Build, Own, Operate, and Transfer (BOOT) Public-Private Partnership framework, with economic projections estimating over $53 billion in revenue generation over its 45-year concession timeline.
As part of the bilateral discussions in Copenhagen, the delegation also evaluated ongoing concession extensions for APM Terminals’ facilities at the Lagos Port Complex in Apapa and the West Africa Container Terminal (WACT) in Onne.
