President Bola Tinubu has clinched a landmark $600 million investment deal with A.P Moller-Maersk, propelling the expansion of Nigeria’s port infrastructure to welcome more container shipping services.
Chairman of A.P Moller-Maersk, Robert Maersk Uggla, revealed the groundbreaking decision during a meeting with President Tinubu at the World Economic Forum Special Meeting on Global Collaboration in Riyadh, Saudi Arabia.
Tinubu emphasized the synergy between this investment and the government’s ongoing $1 billion commitment to revamp seaports across the nation, further cementing Nigeria’s port modernization efforts.
In a statement, Tinubu emphasized, “We appreciate your business and the contribution you have made and continue to make to our country’s economy over time.”
He added, “More investment opportunities are available, and my government has worked on various reforms to encourage investments.”
Assuring Maersk of a conducive business environment, Tinubu underscored his administration’s commitment to fostering partnerships that drive economic growth.
Chairman Robert Maersk Uggla reiterated Maersk’s belief in Nigeria’s potential, citing previous investments exceeding $2 billion in Nigerian ports.
“We believe in Nigeria, and we will invest $600 million in existing facilities to accommodate bigger ships,” Maersk chairman affirmed, expressing eagerness to explore further opportunities in collaboration with Nigerian authorities.
