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Tinubu to Unveil N178bn Onne Terminal

byBilkisu Kasim
August 26, 2024
in Business
4

President Bola Tinubu is scheduled to inaugurate the newly upgraded West Africa Container Terminal in Onne, Rivers State, next Wednesday, as revealed in a statement from the terminal operator on Sunday.

The statement highlighted that the transformative upgrade project, with a valuation of $115 million (roughly N178.2 billion), began at WACT in 2021. This terminal, run by APM Terminals in Onne, is now recognized as Nigeria’s largest and most advanced container facility outside Lagos.

Jeethu Jose, Managing Director of WACT, noted that the completion of this upgrade is a landmark event in the history of Nigerian ports. “We are excited to announce the successful completion of our terminal upgrade at Onne Port.

This development will be a game-changer for Nigeria, and we are enthusiastic about its impact,” Jose remarked. “This $115 million investment further affirms APM Terminals’ confidence in the Nigerian economy and supports our mission to enhance lives and advance global trade.”

WACT represents Nigeria’s pioneering greenfield container terminal, developed through a public-private partnership model. Situated within the oil and gas free zone in Onne, it has become a crucial gateway for accessing markets beyond Lagos and plays a significant role in Eastern Nigeria’s expanding economy.

On August 15, 2020, WACT set a new record by hosting the largest container vessel ever to dock at a Nigerian port. The Maersk Stadelhorn, with a length of 300 meters and a beam of 48.2 meters, is capable of carrying about 10,000 twenty-foot equivalent units of containers.

Bilkisu Kasim

Bilkisu Kasim

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