President Bola Tinubu has successfully secured an additional $600 million in foreign investment for the enhancement of Nigeria’s port infrastructure to accommodate increased container shipping services. This new investment, provided by the Danish shipping and logistics giant, A.P. Moller-Maersk, will complement the existing $1 billion allocated by the administration for the reconstruction of seaports across the country’s eastern and western regions.
The announcement of this significant investment was made by the Chairman of A.P. Moller-Maersk, Mr. Robert Maersk Uggla, during a meeting with President Tinubu on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia.
President Tinubu highlighted the importance of this investment in supporting Nigeria’s efforts towards port modernization and process automation, particularly through the implementation of the national single window project. This initiative aims to facilitate trade, streamline import/export procedures, curb corruption, and enhance the efficiency and transparency of port operations in Nigeria.
In expressing gratitude to A.P. Moller-Maersk for their continued partnership and contributions to Nigeria’s economy, President Tinubu emphasized that investing in Nigeria offers significant rewards and opportunities for growth. He reiterated his government’s commitment to fostering a conducive environment for businesses to thrive and assured Maersk of ongoing collaboration.
President Tinubu also cited Maersk’s previous involvement in the development of the Ogun State container terminal as evidence of successful partnerships with the renowned logistics company. This collaboration underscores the potential for mutually beneficial ventures between Nigeria and global industry leaders like A.P. Moller-Maersk.
