Port and Terminal Multiservices Limited (PTML) has announced plans to invest $50 million in expanding port infrastructure and improving operational efficiency. The proposed investment is aimed at positioning Nigeria as a leading maritime hub in West and Central Africa.

Mr. Ascanio Russo, Managing Director of PTML, disclosed the plan during a meeting with the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, in Lagos.

The investment will focus on expanding PTML’s berthing capacity and acquiring advanced port equipment at the Tin Can Island Port Complex. The goal is to accommodate larger next-generation Container/Roll-on Roll-off (Con-Ro) vessels, keeping up with evolving international trade demands.

Russo highlighted the positive economic impact of the expansion, including increased trade, job creation, and higher revenue for the government.

The Minister welcomed the investment, describing it as a sign of confidence in ongoing maritime reforms. He reiterated the government’s commitment to improving port efficiency and attracting private investment to modernize Nigeria’s maritime sector.