News
Tinubu To Inaugurate Upgraded $115 Million Onne Container Terminal In Rivers
President Bola Ahmed Tinubu is scheduled to officially inaugurate the newly upgraded West Africa Container Terminal (WACT) in Onne, Rivers State, next Wednesday, barring any last-minute changes.
This terminal, managed by APM Terminals, holds the distinction of being Nigeria’s largest container facility outside of Lagos.
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EKO HOT BLOG reports that the upgrade, valued at $115 million (approximately ₦178.2 billion), began in 2021 and represents a significant development in the evolution of Nigerian ports.
The Managing Director of WACT, Jeethu Jose, highlighted the importance of this milestone, 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’re thoroughly excited about it.”
Tinubu $115 Million Onne Container Terminal
He further emphasized the broader implications of the investment, noting, “The fresh investment of $115 million is a testament to the trust and confidence that APM Terminals has in the Nigerian economy and contributes to our purpose of improving lives for all while lifting global trade.”
WACT stands out as Nigeria’s first greenfield container terminal developed under a Public-Private Partnership (PPP) model.
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Strategically located within the Oil and Gas Free Zone in Onne, Rivers State, the terminal has become the premier gateway for accessing markets beyond the Lagos region. It serves as a vital conduit to the burgeoning economy of Eastern Nigeria.
In a historic achievement on August 15, 2020, WACT received the largest container vessel ever to berth at any Nigerian port, underscoring its strategic importance in the country’s maritime sector.
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