Business
MWUN Protests Salary Disparity At APMT Terminal
The leadership of Maritime Workers Union of Nigeria (MWUN) has expressed worries over the disparity in salary and allowances between foreign personnel and Nigerian employees doing the same job at APMT Terminals Apapa.
In a statement signed by the President General and Secretary General, Comrades Adewale Adeyanju and Felix Akingboye respectively, the union expressed disappointment at the concessionaire’s penchant for disregarding Nigerian workers, noting that APMT has no iota of regard for the welfare of its employees.
The statement noted that MWUN should not be held liable in the event of distortion of industrial peace in the APMT Terminal.
This, the union said, was based on the low salaries and allowances being offered as negotiation, which it stated was far below the industry’s standard.
It recalled that a 7-day ultimatum was issued, which had expired, adding that a total of four meetings was held in an attempt to resolve the lingering issues raised at negotiation proved abortive.
“The leadership of Maritime Workers Union of Nigeria on Wednesday June 22nd 2022 met with the management of APMT Nigeria to discuss the review of the Condition of service (Collective Bargaining) for our members for this fiscal year 2022.
“Unfortunately, we are forced to bring to the notice of the general public that after series of meetings this last one being the 4th, the meeting like the several others ended in a stalemate.
“This is as a result of the refusal of the management of APMT to concede to workers’ demand for appropriate and industry compliant increase in their salaries across board. On this note a seven (7) day ultimatum was issued, which has since expired”, the said.
MWUN also affirmed that APMT Nigeria has overwhelmingly exceeded its projected profits and return on investment, noting that members have been instrumental to this achievement.
“We are, therefore, appalled that APMT employees (our members) who toil day and night to achieve this height are denied enjoyment of their hard work.
“The union has long noted that APMT has no iota of regard for the welfare of its employees — Nigeria Workers. This is underscored from the ridiculously low salaries and allowance being offered as negotiation which is far below the industry standard.
“Maritime Workers Union of Nigeria also brings to the notice of the general public, APMT Nigeria management’s penchant to hire foreign personnel in disregard of hiring Nigerians who are eminently qualified to hold and man the responsibilities of these positions.
“Also of note is the disparity in the salary and allowances between foreign personnel and Nigerian employees doing the same job in our nation”, the statement further noted.
By: Nkpemenyie Mcdonminic, Lagos
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.