Tinubu to Inaugurate N178bn Onne Terminal Next Week
President Bola Tinubu is set to officially inaugurate the upgraded West Africa Container Terminal (WACT) in Onne, Rivers State, next Wednesday. This announcement was made by the terminal operator, APM Terminals, in a statement released on Sunday.
The terminal’s upgrade, valued at $115 million (approximately N178.2 billion), began in 2021 and marks a significant advancement for the Nigerian port system. WACT, located in Onne, is Nigeria’s largest and most efficient container terminal outside of Lagos.
Jeethu Jose, the Managing Director of WACT, highlighted the importance of this development, stating, “We are pleased to announce the successful completion of the upgrade of our terminal at Onne Port. This will be a game-changer for Nigeria, and we are thoroughly excited about it. The fresh investment of $115 million is a further testament to the trust and confidence that APMT has in the Nigerian economy and contributes to our purpose of improving lives for all while lifting global trade.”
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WACT is Nigeria’s first greenfield container terminal developed under a public-private partnership model. Strategically located within the oil and gas free zone in Onne, it serves as a key gateway for accessing markets beyond the Lagos region and plays a crucial role in Eastern Nigeria’s growing economy.
The terminal gained attention on August 15, 2020, when it received the largest container vessel ever to berth at a Nigerian port. The vessel, Maersk Stadelhorn, measures 300 meters in length and 48.2 meters in beam, with a capacity to carry approximately 10,000 twenty-foot equivalent units (TEUs) of containers.
The upcoming inauguration by President Tinubu underscores the terminal’s importance to Nigeria’s maritime sector and its potential to boost the nation’s trade and economic development.
