Paragraph 1: WACT-APM Terminals’ Recognition and Role
West Africa Container Terminal (WACT), operated by APM Terminals Nigeria, has been honored with the Special Economic Zones Industry Pacesetter Award by the Nigerian Economic Zone Association (NEZA). This prestigious recognition highlights WACT-APM Terminals’ significant contribution to port logistics, trade facilitation, and supply chain efficiency within Nigeria’s special economic zones (SEZs) and beyond. The award was presented at the 3rd Special Economic Zones Annual Meeting in Lagos by Dr. Olufemi Ogunyemi, Managing Director of the Nigeria Export Processing Zones Authority (NEPZA). The award acknowledges WACT-APM Terminals’ pivotal role in fostering trade growth, optimizing port operations, and maximizing the economic benefits derived from SEZs for national economic progress.
Paragraph 2: Reaffirming Commitment and Driving Economic Progress
The award presentation served as a platform for WACT-APM Terminals to reaffirm its commitment to driving trade growth and ensuring that the benefits of economic zones are effectively leveraged for Nigeria’s economic advancement. This commitment aligns seamlessly with the terminal operator’s ongoing investments in port infrastructure, technology, and capacity building, which actively contribute to strengthening Nigeria’s trade ecosystem. By facilitating efficient cargo handling, streamlined customs processes, and enhanced connectivity within the supply chain, WACT-APM Terminals plays a crucial role in promoting seamless trade flows and unlocking the full economic potential of Nigeria’s SEZs.
Paragraph 3: Investing in Nigeria’s Economy and Diversification Efforts
Courage Obadagbonyi, Chief Finance Officer of APM Terminals Nigeria, reiterated the company’s steadfast dedication to investing in Nigeria’s economy and supporting government initiatives aimed at diversifying the nation’s revenue base through the promotion of non-oil exports. This commitment underscores WACT-APM Terminals’ recognition of the importance of moving beyond reliance on oil and gas revenue and fostering growth in other economic sectors. By supporting non-oil exports through efficient port operations and trade facilitation, WACT-APM Terminals actively contributes to generating increased foreign exchange earnings and strengthening Nigeria’s overall economic resilience.
Paragraph 4: Fostering Strategic Synergies for Sustainable Economic Growth
The 3rd Special Economic Zones Annual Meeting, themed "Fostering strategic synergies for enhanced special economic zone operations and sustainable economic growth," brought together industry leaders and experts to explore strategies for optimizing special economic zones and driving sustainable economic development. The event provided a valuable platform for knowledge sharing, collaboration, and the development of innovative solutions to address challenges and opportunities within the SEZ landscape. WACT-APM Terminals’ participation underscores the company’s commitment to engaging with stakeholders and contributing to the broader dialogue on harnessing the full potential of SEZs for national economic growth.
Paragraph 5: Public-Private Partnership and Strategic Location
WACT-APM Terminals operates within the Oil and Gas Free Zone at Onne Port, Rivers State, signifying its strategic location within a key industrial hub. As Nigeria’s first greenfield container terminal developed under a public-private partnership (PPP) model, WACT-APM Terminals serves as a successful example of collaboration between the government and the private sector in developing critical infrastructure to support economic growth. The PPP model leverages the expertise and resources of both partners to create a synergistic approach to infrastructure development and management, ultimately benefitting the wider economy.
Paragraph 6: Driving Efficiency and Trade Facilitation
WACT- APM Terminals strives to maintain its position as a leading driver of efficiency and trade facilitation within Nigeria’s maritime sector. Through continuous investments in infrastructure, technology, and human capital, the company enhances its capacity to handle increasing cargo volumes, optimize operational processes, and ensure seamless cargo flow. These efforts contribute significantly to reducing trade costs, enhancing competitiveness, and facilitating the growth of both domestic and international trade, thereby further solidifying Nigeria’s position as a key player in regional and global trade networks.
