…PTML invests $250m

By Providence Ayanfeoluwa

In the last 20 years of port concession programme, terminal operators have invested more than $1 billion in the Nigeria port industry since the commencement of the port, while Ports and Terminal Multiservices Limited, PTML alone has committed over $250 million to infrastructure and operational development.
Managing Director of PTML Mr. Ascanio Ruso gave the figures during the 2nd Quarter 2026 Citizens /Stakeholders‘ Engagement organised by the Federal Ministry of Marine and Blue Economy themed: “From Policy to Action: Mobilising Sub-National Governments for Effective Implementation of Nigeria’s National Policy on Marine and Blue Economy”.

“Over the last 20 years since the port concession began, the terminal operators have invested more than $1 billion. At our terminal, PTML, we have invested more than $250 million since the start of our preparations. Now we are ready to develop our preparations into a large infrastructure development that will help us organize the largest air events in the world.”

He said the company is preparing to embark on another major phase of infrastructure expansion aimed at enhancing cargo handling capacity, vehicle logistics and terminal efficiency. According to him, the investment drive is designed to position the terminal to handle increasing volumes of cargo and vehicle imports from key global markets, including China, Europe, North America, and the West and Central African sub-region.

He reaffirmed PTML’s commitment to partnering with government and industry stakeholders to strengthen the maritime sector, expressing confidence that ongoing investments would help transform Lagos into a leading maritime and logistics hub on the continent. He added that the company remains dedicated to supporting initiatives that will improve port competitiveness, facilitate trade and create a more efficient maritime industry in Africa.

Earlier in her welcome remark, Director of Planning, Research and Statistics at the Ministry, Hajia Kaltum Ibrahim, said the theme is both timely and significant, having successfully developed and secured approval of the national policy.

She said: “Our collective attention has now shifted to implementation. The surface of the policy will depend on our ability to translate its strategic objectives into concrete programmes, projects, investments, and measurable outcomes.

“The implementation of the national policy presents immense opportunities for state governments to drive economic growth, job creation, increase internally generated revenue, and improve livelihoods. The marine and blue economy offers significant investment prospects in fisheries and aquaculture, post and logistics, inland waterways transportation, coastal tourism, shipbuilding areas, maritime services, renewable energy, and other emerging sectors. By strategically addressing these opportunities, states can accelerate socio-economic development and contribute meaningfully to national growth.

Also speaking, Chairman, Senate Committee on Marine Transport, Senator Wasiu Eshinlokun, said

that the adoption of Nigeria’s national policy on management of the economy is a significant milestone in our national quest to analyse the vast economic opportunities embedded in our maritime domain.

Eshinlokun: “The true measure of any policy lies not in its design, but in its execution. This is why the focus on mobilising some national governments is most necessary and urgent. From a legislative perspective, our responsibility in the national assembly goes beyond law and order.

“It extends to creating an enabling legal and institutional framework that guarantees effective implementation and accountability and sustainability. The Senate Committee on Marine Transport recognises the subnational government as critical drivers of this policy. Because the practical realities of management of the economy activities, fisheries, inland waterways, transportation, coastal tourism, marine conservation, and board game industrialisation are likely situated within states and local communities.

“As legislators, we remain committed to bridging the gap between policy formulation and practical execution by providing robust legal support, adequate appropriation, and sustained oversight. I therefore call on state assembly to complement their efforts by promulgating relevant policies and enacting supportive laws tailored to their unique maritime and inland waterways potentials.

“The national assembly will continue to provide legislative support, policy oversight, and strategic engagement to ensure that the objectives of these policies translate into economic growth, social inclusion, and national food security.”