In a significant move to enhance Nigeria’s economic framework, Vice President Kashim Shettima has inaugurated the $115 million upgrade of the West Africa Container Terminal (WACT) in Onne, Rivers State. The Investment underscores the port’s dedication to enhancing Trade across the country and West Africa while reaffirming the country’s importance as a regional economic hub. The recent event underscored the terminal dedication to enhancing trade and stimulating local Economic Development through major Infrastructure upgrades. This effort further strengthens the country’s position in the world market, as Onne Port is an essential entry point for global trade, linking West Africa to crucial markets.
Musaddiq Mustapha, who serves as the president’s personal assistant regarding subnational infrastructure in the office of the Vice President, attended the event on behalf of the vice president. He underscored the administration’s commitment to promoting enterprises and attracting investments such as the terminals. He pointed out how the enhancements would improve service efficiency at WACT, appeal to more vessels, and improve trade activities. Shettima stated that this investment demonstrates the terminal’s dedication to establishing efficient ports that are essential for international business.
Upgraded ports will have advanced tools to boost operational efficiency.
He promised the federal government’s steadfast backing in promoting a climate where businesses can thrive. With this enhancement, the area remains a land of economic prospects and collaborations that ensure development for private enterprises and government entities. The $115 million investment from the terminals contributes to an all-encompassing transformation strategy for WACT. This initiative encompasses broad yard expansions, the procurement of cutting-edge machinery, and the development of a contemporary office facility. The upgraded infrastructure will feature Mobile Harbour Cranes (MHC), Rubber Tyre Gantries (RTG), and various advanced cargo handling tools to minimise vessel turnaround time and improve the port’s overall efficiency.
Also, the event saw the presence of various prominent individuals, such as Senator George Akume, who was represented by his Senior Adviser (Technical), Professor Babatunde Bolaji Bernard, standing in for the Secretary to the Government of the Federation (SGF); Minister of Marine and Blue Economy Adegboyega Oyetola, with Mr. Olufemi Oloruntola, the Permanent Secretary of the Ministry, representing him; and Comptroller-General of Customs Adewale Adeni. Their attendance represented a unified initiative from different government sectors to promote and enhance investments that contribute to the nation’s trade and economic growth.
WACT will boost trade, security, and efficiency in Nigeria’s ports.
On his part, Adewale Adeniyi, the Comptroller-General of the Nigeria Customs Service (NCS), voiced his positive outlook regarding the WACT enhancement, believing it will boost national revenue, improve trade efficiency, and reduce harmful item smuggling. This upgraded facility will enhance the NCS’s ability to carry out its regulatory and enforcement roles, significantly contributing to National Security and advancing economic development. Dr. Abubakar Dantsoho, the Managing Director of the Nigerian Ports Authority (NPA), through the Executive Director of Marine and Operations, Olalekan Badmus, commended the initiative as a strong indication of the government’s commitment to enhancing the significance of eastern ports like Onne in Nigeria’s maritime approach.
Furthermore, he emphasised that updating WACT will enhance the area’s shipping activities and general facilities, reinforcing the port’s importance. The inauguration represented an important achievement for APM Terminals. Chief Operating Officer Olaf Gelhausen stated that the $115 million investment demonstrates the company’s confidence in the national economic future. As Nigeria is Africa’s most populous country and largest economy, Gelhausen emphasised APM Terminals’ dedication to driving trade and growth throughout West Africa. The enhanced WACT will elevate the site to an internationally renowned port, enhancing efficiency, dependability, and regional quality within the maritime sector.
Related Article: Shettima Seeks Global Economic Support
Lastly, the initiative will revamp WACT’s functions and enhance its ability to accommodate bigger ships and higher cargo loads. With the rise in trade and the expansion of global markets, the enhanced WACT will establish the nation as a key contender in worldwide shipping and commerce, opening up fresh avenues for economic growth. The enhancement signifies an advancement in the nation’s efforts to improve its maritime facilities and cultivate a business-friendly climate that promotes international trade. Through cooperation among the federal government, APM Terminals, and various partners, this initiative paves the way for sustainable development, employment opportunities, and a more competitive Economy for the country and its neighbouring West African nations.