Why we're not receiving empty containers at Apapa Port — APM Terminals?
The container terminal operator at the Lagos Port Complex, APM Terminals has revealed that due to a sustained surge in import cargo volumes over recent weeks, foreign shipping lines have had to prioritise discharging incoming laden containers over evacuating empties.
Responsimg to enquiries surrounding the congestion of empty containers at its terminal by Tribune Online, APM Terminal Manager, Steen Knudsen said that the management of empty container evacuation into the terminal – and subsequent shipment onto vessels – is the exclusive responsibility of shipping lines, which own and control all containers.
Knudsen said, 'There have been insinuations suggesting that APM Terminals Apapa is not receiving empty containers, allegedly contributing to yard congestion. However, the terminal operator has clarified that the management of empty container evacuation into the terminal – and subsequent shipment onto vessels – is the exclusive responsibility of shipping lines, which own and control all containers.
'Due to a sharp and sustained surge in import cargo volumes over recent weeks, shipping lines have had to prioritize discharging incoming laden containers over evacuating empties. This operational shift has resulted in a growing inventory of empty containers within the terminal, significantly limiting yard space.
'As a result of this accumulation, APM Terminals Apapa has had to temporarily restrict the reception of additional empty containers until the existing stock is cleared by the shipping lines.
'We recognize the impact this may have on truck operators, consignees, and landside logistics, and we are actively engaging the shipping lines and relevant government authorities to expedite vessel evacuation of empty containers.'
The Terminal Manager emphasised that the development is not due to a failure in terminal operations, but rather a systemic issue stemming from the imbalance in container traffic.
'Shipping lines play a key role in ensuring containers are loaded out as empties once they are returned. Unfortunately, the high volume of imports is tipping that balance. We are committed to doing everything within our operational capacity to support the clearing of this backlog,' the statement added.
APM Terminals Apapa is appealing to landside customers, truck operators, and other stakeholders to kindly bear with the temporary restrictions and delays in receiving empties, while assuring them that every effort is being made to normalize the situation.
'APM Terminals Apapa remains steadfast in its commitment to professionalism, efficient service delivery, and partnership with stakeholders to ensure the Nigerian supply chain keeps moving,' he said.
Recall that truckers had lamented that due to a lack of acceptance of empty containers at APM Terminals, many truckers are losing jobs while making unnecessary parking payments.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
5 hours ago
- Zawya
Nigeria, Japan strengthen food security ties with $110mln JICA facility
In a bid to bolster Nigeria's food security, the Federal Government has strengthened its collaborative initiative with the Japan International Cooperation Agency (JICA). This partnership is aimed at supporting the country's food production systems and enhancing resilience amid global supply challenges. The initiative took a significant step forward as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun and the Minister of Agriculture and Food Security, Senator Abubakar Kyari, met with senior representatives of JICA to advance the implementation of the Food Security Emergency Loan Support Programme. The JPY 15 billion facility (approximately $110 million) aims to support Nigeria's food production systems and enhance resilience amid ongoing global supply challenges. With the rainy season now underway, both Ministers emphasised the importance of swift, coordinated action to maximise impact for farmers and rural communities. JICA welcomed the government's commitment to delivery and requested formal clarification on proposed implementation adjustments. It was jointly agreed that core production activities would proceed immediately under the existing framework, while additional components, such as aggregation and financing, would be reviewed in line with the original loan agreement. This partnership underscores the commitment of both governments to addressing food security challenges and improving the livelihoods of millions of Nigerians, while also driving economic growth and development in the country. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
5 hours ago
- Zawya
Nigeria: Makinde has increased Oyo economic growth index by over 4% — AfCTA
The African Continental Free Trade Area (AfCFTA) has disclosed that Governor Seyi Makinde of Oyo state has been able to grow the economy of the state by over four per cent in the past six years. Secretary General of AfCFTA, Wamkele Mene disclosed this during his visit to Ibadan, Oyo state at the weekend. He submitted that the Oyo economic growth index bested that of the average Country on the continent. 'We see the average growth rate across the continent being 3 or 3.5 per cent. To scale up above that is a testament to your leadership. 'I think it helps that you came from the private sector, you have a sense of getting things done,' he said. On the purpose of his visit, Mene said, 'We discussed this visit a few months ago when the governor and his team visited the secretariat. It was the first time that we hosted a governor. 'The purpose of us coming here is first to consolidate the collaboration between the AfCFTA and Oyo State. Second, it is for us to be aware of what investment opportunities are available in the state. 'It is very important for us to be aware. Just last week or the week before, we were in South Korea. 'We have a Memorandum of Collaboration with Korean International Trade Agency and all of the large Korean corporations are members. We meet about twice a year and the question they always ask us is where should we invest? 'There are big companies that have no presence anywhere in Africa. What we have been telling them is that they have to invest in Africa. 'This is a very important visit because it gives us a very strong investment case to make when we meet with those that are seeking to invest. 'Another reason this meeting is important is that yesterday, we had to give a report to President William Ruto on African Union climate change and we mobilized all of our development finance institutions. 'The President tasked me to bring them to the table so that we can jointly identify opportunities to invest in green infrastructure, agro-processing etc. 'We came out of that meeting with a long list of bankable projects and investment portfolio that will be spread across the continent. 'We are well positioned to support the establishment of a green industrial technology sector, we have the capability for solar or renewable energy', those kinds of projects would be supported through this syndicated financing that we are agreeing to with the development financing institutions that I have mentioned.' In his address, Makinde has assured intending local and foreign investors of adequate legislation that would enable their businesses to thrive The governor said, 'I know that political risk is something that most investors don't want to deal with. While I am here, I believe we have the opportunity to lock things up for the next 25 to 30 years and back it up by law. We have a legislative arm that is on the same page with the executive in terms of how to develop our state.' Speaking on the comparative advantage of the state, Governor Makinde said, 'Oyo State is central in the geography of Nigeria and that of West Africa. We share a common border with the Republic of Benin, which means we have access to the West African sub-region in terms of developing the market. 'We are upgrading our airport in Ibadan to international standard. Why we took that decision is not far-fetched. In Africa, you have three major airlines that go everywhere. 'The largest is Ethiopian Airline, followed by Kenyan Airline and the Rwandan Air. Oyo State is bigger than Rwanda but they have an airline that goes everywhere. Nigeria is in the centre geographically. So, how come we are connecting through Ethiopia, Kenya, Rwanda or Morocco? Wherever you are going, you first go Far West or Far East and then you try to connect elsewhere. 'We felt because of the geography and in terms of how much is spent on fuel and trying to connect, if we develop a Kigali-type of airport here in Ibadan, we may be able to attract people who don't have too much time to waste connecting. 'The air side will be ready in September; the terminal itself will be ready in the second quarter of next year. 'We have a land that is arable; you can literally grow anything here. In terms of agribusiness, we have a competitive advantage. We also have competitive advantage in terms of solid minerals. 'This is a major lithium belt. We believe that we can also develop that quickly.' The governor also said that the state plans to turn the Rasidi Ladoja Circular Road axis into a world-class environment, a city that would be planned to international standards right from the outset. He said, 'We just set up a new authority in Oyo State through which we are trying to have new towns and cities developed to international standards, a first world environment. The Circular Road is a 110-km road round the city of Ibadan and we have another 4,000 hectares into a new city, which we believe will be up to international standards. We have the opportunity to plan it right from the scratch. 'The first segment of the Circular Road will be ready before the end of the year. It will be ready for concessioning as well with all the real estate around it.' Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
5 hours ago
- Zawya
Nigeria's economic turnaround: Reforms fuel growth and investor confidence
Two years after Nigeria's economic reforms have gained traction with macroeconomic stability returning, foreign capital flowing in, and the economy on a steady trajectory to full recovery, the nation has achieved progress many thought was impossible, and more can be accomplished if the momentum is maintained, writes JOSEPH INOKOTONG. TWO years into President Bola Ahmed Tinubu's administration, Nigeria's economy, long mired in oil dependency, structural distortions, and governance challenges, is showing signs of a turnaround. Despite ongoing hardship for many Nigerians, experts and multilateral institutions agreed that macroeconomic fundamentals are stabilizing, reforms are gaining traction, and investor confidence is rising. Turning the tide with reforms Tinubu's tenure began with a bold move, the removal of the long-standing fuel subsidy, which had drained public finances. He also put an end to the Central Bank of Nigeria's (CBN) unsustainable financing of fiscal deficits, reined in monetary excesses, and unified the exchange rate. These reforms, though painful, have begun to yield results. Nigeria's economy is projected by the World Bank to grow by 3.7 per cent in 2024—its strongest performance since 2014 (excluding the post-COVID rebound). Crude oil production has risen from a low of 1 million barrels per day (bpd) to 1.5 million bpd, and the naira, though volatile, has stabilized as the gap between official and black-market rates narrowed significantly. Foreign portfolio investments surged to $3.48 billion in the first half of 2024, compared to $756.1 million in the same period of 2023. Analysts attribute this uptick to the CBN's enhanced policy transparency, reduced forex market intervention, and successful clearing of a $7 billion FX backlog. Positive global ratings and Eurobond market re-entry Fitch Ratings upgraded Nigeria's outlook to 'Positive,' citing improved fiscal discipline, a reduction in fuel subsidies, and higher oil output. Moody's followed suit, lifting Nigeria's sovereign credit rating from 'Caa1' to 'B3,' based on stronger external and fiscal positions. These upgrades reflect growing optimism that recent policy changes are sustainable. This renewed credibility allowed Nigeria to return to the international Eurobond market in late 2024, raising $2.2 billion despite subscription offers exceeding $9 billion. It marked Nigeria's re-emergence after a two-year hiatus and signals strong global investor appetite. Managing exchange rate volatility A cornerstone of Nigeria's stabilization plan has been unifying its multiple exchange rates. By adopting a market-driven naira valuation, speculative arbitrage has drastically reduced. According to Ifeanyi Ubah of Commercio Partners, though the naira depreciated from ₦1,475/$ in January 2025 to ₦1,598/$ by May, the fluctuation has been more orderly and transparent, signaling increased market confidence. The country's external reserves, despite early 2025 drawdowns, began to rebound by late April, reaching $38.9 billion by mid-May—enough to cover 7.6 months of imports. This underscores the CBN's strategic efforts to rebuild buffers amid external shocks. Oil price decline: A looming risk While oil production has improved, declining global prices pose new challenges. OPEC+ countries recently agreed to ramp up production, pushing Brent crude closer to $60 per barrel. Some projections suggest a potential drop below $50 per barrel by year-end—a troubling scenario for an economy still reliant on oil. At current prices and 1.5 mbpd output, Nigeria's fiscal revenue could fall 10% below its breakeven level. Yet, the CBN is responding proactively by enhancing non-oil exports, supporting backward integration to reduce import dependency, and simplifying diaspora remittance processes. The apex bank is also encouraging sectors like agriculture, manufacturing, and creative industries to adopt export-led strategies. Nigeria's creative economy alone has the potential to generate $25 billion annually, offering a critical FX diversification pathway. Capital market surge and Sukuk success Investor confidence is also evident in the capital markets. In 2024, Nigerian listed firms declared ₦1.1 trillion in dividends, with ₦1 trillion already paid. The Securities and Exchange Commission (SEC) reported ₦3.68 trillion in new issues for the year, ₦3.62 trillion in equities, and ₦59.82 billion in fixed income. The Debt Management Office's Series VII Sovereign Sukuk, aimed at financing infrastructure, was another highlight. It attracted ₦2.205 trillion in subscriptions, 735% over the ₦300 billion offer. These funds will be used to build roads and bridges across all six geopolitical zones and the FCT, aligning with Tinubu's infrastructure-focused Renewed Hope Agenda. Meanwhile, mergers, acquisitions, and corporate restructurings continued at a rapid pace. In 2024, the SEC approved 11 M&A deals worth ₦320.36 billion. Major transactions included N Seven's ₦103.7 billion acquisition of a controlling stake in Guinness Nigeria Plc. Inflation slows, fiscal metrics improve Inflation, though still elevated, is beginning to ease. The National Bureau of Statistics (NBS) reported a drop in headline inflation to 23.71% in April 2025 from 24.23% in March. Food inflation also declined slightly on a month-on-month basis. The Central Bank's tighter monetary stance is credited with reducing inflationary expectations. The fiscal position is also improving. The World Bank's latest Nigeria Development Update notes that the consolidated fiscal deficit fell from 5.4% of GDP in 2023 to 3.0% in 2024. Federation revenue surged from ₦16.8 trillion to ₦31.9 trillion, equivalent to 11.5% of GDP. Moody's expects Nigeria's debt-to-GDP ratio to stabilize at around 50%, with interest payments consuming about 35% of revenue—a manageable, albeit high, burden. Forward outlook: Stability with inclusive growth Although the reforms have yet to alleviate hardship for many citizens, analysts agree that they are laying the foundation for long-term recovery. The World Bank warns that maintaining momentum is crucial and calls for deeper reforms to generate jobs, reduce poverty, and ensure inclusive growth. 'Nigeria has made impressive strides to restore macroeconomic stability,' said Taimur Samad, Acting World Bank Country Director for Nigeria. 'The challenge now is to shift public resources away from unsustainable patterns and towards investing in human capital, infrastructure, and social protection.' Nigeria's economy is far from fully recovered, but the signs are encouraging. With macroeconomic stability returning, foreign capital flowing in, and global institutions offering cautious optimism, the Tinubu administration has achieved progress many thought unlikely. If reforms are deepened and sustained, Nigeria may well be on a path to lasting growth and prosperity.
