• Sunday, May 26, 2024
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Except you bring sack letter, Martin Jacob is still APM Terminals’ MD 100% – source confirms

APM Terminals

Following the media report that Martins Jacob, managing director of APM Terminals, operator of the busiest container terminal in Apapa, has been sacked over the controversies trailing the lingering port congestion and Apapa gridlock, a reliable source close to the company has faulted report.

“The report is pure lie; except they bring the letter of sack. Martins Jacob is in the office as we speak. He is 100 percent on his seat. This is pure blackmail but APM Terminals is not going to succumb to that. The people behind this has resulted to writing falsehood,” says the source, who does not want his name in the print.

The source however confirmed to BusinessDay that the company is perfecting plans to react to the report appropriately, threatening that it might lead to litigations if not retracted.

The source further warned that the media should not be used to propagate falsehood.
Recall that the management of APM Terminals Apapa said last week Monday that it had placed orders for more equipment to cope with the significant growth in the volume of cargo at the Lagos Port.

According to Martin Jacob, Lagos ports witnessed a spike in volume as cargo, which hitherto used to go to Cotonou now comes through Nigerian ports, with periods such as October witnessing up to 50 percent year-on-year growth in import volume.

“APM Terminals Apapa has expedited the investment in additional equipment, with the first batch of three cranes already in operation after arriving within the last month. A further five cranes are scheduled to arrive within the next few weeks to not only handle the oceangoing vessels but also inject much needed capacity for the needed barging,” Jacob stated.