As part of Nigeria’s efforts to modernize its port infrastructure, the Onne Port in Rivers State has unveiled the newly upgraded West Africa Container Terminal (WACT).
The terminal, managed by APM Terminals, underwent a $115 million renovation aimed at enhancing the nation’s maritime capacity. The upgraded facility now includes expanded yard space, nearly doubling its original capacity, and is equipped with advanced cargo handling machinery such as Mobile Harbor Cranes (MHC) and Rubber Tyre Gantries (RTG).
These improvements are expected to significantly reduce vessel turnaround times, promoting more efficient operations at Onne Port. While the port has historically focused on oil and gas, it is increasingly shifting towards container operations, with excellent connections to the hinterlands to serve the emerging industrial clusters in eastern and central Nigeria.
Olaf Galhausen, COO of APM Terminals, emphasized the importance of the development, stating, “As Africa’s largest economy and most populous nation, Nigeria is poised for tremendous growth. We are proud to play a key role in this transformation by turning WACT into a world-class facility that will drive trade across West Africa.”
APM Terminals operates two key container terminals in Nigeria: WACT at Onne Port and another terminal in Lagos, together handling nearly half of the country’s container traffic. With growing trade volumes, there is increasing interest in expanding port capacity to accommodate larger vessels.
In 2020, Maersk added Onne Port to its Far East to West Africa (FEW3) direct service route, reflecting the port’s rising significance in regional trade. Earlier this year, Maersk pledged close to $600 million for the expansion of Nigeria’s port infrastructure. Robert Maersk Uggla, Chairman of Maersk, noted that this investment will help Nigerian ports accommodate larger container ships and solidify the country’s position as a key player in West African trade.
“We see great potential for Nigeria to handle larger container vessels,” Uggla said, noting that most of the West African coastline has traditionally been serviced by smaller ships. Expanding Nigeria’s port infrastructure is crucial for deploying larger vessels and unlocking the country’s trade potential.
With the upgraded WACT now operational, Onne Port is set to play a crucial role in supporting Nigeria’s economic growth while bolstering the country’s position in both regional and global trade.
Meanwhile, Bulgaria has seen a significant increase in trade with Nigeria, with exports to the West African nation rising by 122% and imports from Nigeria growing by 188% in the first five months of 2024, compared to the same period in 2023. This growth has resulted in a trade surplus for Bulgaria, according to Bulgarian Ambassador to Nigeria, Yanko Yordanov, who shared the figures during the annual InvestNigeria forum hosted by the Lagos Chamber of Commerce and Industry.
