The Federal Government has commenced exclusive negotiations with APM Terminals on the proposed development of the Badagry Deep-Seaport in Lagos State, as part of broader efforts to expand Nigeria’s maritime infrastructure and strengthen the country’s position as a regional shipping and transshipment hub.
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The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed the development on Tuesday, following engagements with APM Terminals in Copenhagen, Denmark.
According to the minister, the discussions culminated in the signing of a Memorandum of Understanding with Badagry Port Development Limited, paving the way for exclusive negotiations on the proposed deep-seaport project.
“Yesterday in Copenhagen, Denmark, we took an important step towards unlocking a new chapter in Nigeria’s maritime and economic development,” Oyetola said.
“I led a Federal Government delegation that engaged APM Terminals on the proposed development of the Badagry Deep-Seaport, culminating in the signing of a Memorandum of Understanding with Badagry Port Development Limited for exclusive negotiations on the project.”
Oyetola said the proposed seaport is expected to provide Nigeria with additional deepwater capacity, allowing larger container vessels to call at the country’s ports while increasing cargo-handling and transshipment capacity.
The government expects the project to serve not only Nigeria’s domestic trade needs but also the wider West African market, potentially strengthening the country’s competitiveness within regional and international maritime trade.
Beyond port operations, the proposed development is expected to generate employment, attract private investment and stimulate economic activity across related sectors, including logistics, transportation, manufacturing and warehousing.
Oyetola said the engagement with APM Terminals formed part of the Federal Government’s strategy to use public-private partnerships to mobilise private-sector capital for major maritime infrastructure projects.
The Badagry project is also part of a broader plan to expand Nigeria’s deep-seaport network along the country’s coastline.
Similar deep-seaport developments are either underway or being considered in Akwa Ibom, Bayelsa, Cross River, Ogun, Ondo and Rivers states.
Deep-sea ports, because of their deeper draft, are capable of receiving larger vessels and handling substantially higher cargo volumes than many conventional ports, potentially reducing congestion and improving maritime connectivity.
The Federal Government is simultaneously pursuing the rehabilitation and modernisation of existing ports.
The Nigerian Ports Authority has prioritised the rehabilitation of Apapa and Tin Can Island ports, support for the Lekki and proposed Badagry deep-seaports, revitalisation of Eastern ports and the deployment of digital platforms, including the Port Community System and the National Single Window.
The renewed push for additional port capacity comes amid increased activity at Nigerian ports in 2026.
Cargo throughput in the first quarter of the year reportedly rose by 11.6 per cent year-on-year to 32.38 million metric tonnes, while the gross registered tonnage of ocean-going vessels increased by 19.5 per cent to 46.75 million tonnes.
In the second quarter, cargo throughput climbed by 12.3 per cent to 35.74 million metric tonnes, compared with 31.83 million metric tonnes recorded during the corresponding period of the previous year.
Ocean-going vessel calls also rose by 14.4 per cent to 1,201, while gross registered tonnage increased by 22.2 per cent to 49.95 million tonnes, indicating an increase in the size of vessels calling at Nigerian ports.
Container traffic increased by 11.3 per cent to 602,392 twenty-foot equivalent units, while transshipment traffic reached 29,038 TEUs, compared with no transshipment volume recorded in the second quarter of 2025.
The performance followed strong growth in 2025, when total cargo throughput reportedly increased by 24.8 per cent to 129.3 million metric tonnes, while container traffic rose by 25.7 per cent to more than 2.1 million TEUs.
The Badagry Deep-Seaport initiative also comes as the government moves to improve access to financing for indigenous operators in the maritime industry through the Cabotage Vessel Financing Fund.
President Bola Tinubu recently approved the disbursement of the fund, with Oyetola directing the Nigerian Maritime Administration and Safety Agency and 12 Primary Lending Institutions to accelerate the process.
NIMASA reportedly received 92 applications for the fund, with 20 forwarded for consideration and one reviewed and submitted for further action.
The CVFF is structured to provide eligible Nigerian maritime operators with low-interest, long-term financing for vessel acquisition and other maritime investments, with the government projecting that its implementation could support more than 30,000 jobs.
The fund was estimated at ₦44.64 billion in 2019, while NIMASA placed its value at about $700 million in 2025.
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