President Bola Tinubu has successfully negotiated a $600 million investment from A.P Moller-Maersk, a Danish shipping and logistics giant, aimed at enhancing port infrastructure in Nigeria. This investment aims to accommodate larger container ships in Nigerian ports, particularly in Lagos, thus fostering economic growth and expansion opportunities.
During a meeting at the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia, A.P Moller-Maersk’s Chairman, Mr. Robert Maersk Uggla, expressed the firm’s commitment to Nigeria’s potential. Tinubu, in turn, acknowledged the firm’s contributions to Nigeria’s economy and emphasized the government’s dedication to creating a conducive environment for investments.
The $600 million investment is set to upgrade existing facilities, making Nigerian ports more accessible for larger ships, aligning with Tinubu’s vision to minimize trans-shipments and maximize revenue opportunities. This deal marks a significant step towards transforming Nigeria’s port activities and enhancing its position in the global shipping industry.
