A.P Moller-Maersk plans to make a landmark $600 million investment to expand port infrastructure in Nigeria and modernize operations.
Nigeria’s president, Bola Ahmed Tinubu, recently met with Robert Maersk Uggla, Chairman of A.P Moller-Maersk, during the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia. The meeting resulted in a significant investment of $600 million from the Danish shipping giant to expand existing port infrastructure in Nigeria.
This investment aims to accommodate more container shipping services in Nigerian ports, aligning with the administration’s ongoing $1 billion investment in seaport reconstruction across the eastern and western seaports of Nigeria.
President Tinubu Meets Chairman of Danish Shipping Giant Maersk; Secures $600 Million Investment in Nigerian Seaport Infrastructure pic.twitter.com/SlUMSq18Bc
— Presidency Nigeria (@NGRPresident) April 28, 2024
During the meeting, President Tinubu emphasized the importance of this investment in supporting the country’s port modernization efforts and port process automation. He highlighted the implementation of the national single window project as part of his administration’s strategy to enhance trade facilitation, streamline import/export processes, combat corruption, and improve efficiency and transparency at the ports.
He assured that his government has undertaken various reforms to create a conducive environment for investment and encourage partnerships with international companies like A.P Moller-Maersk. This investment underscores the confidence in Nigeria’s potential for economic growth and prosperity.
