During a meeting with President Bola Tinubu at the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia, Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, announced a significant investment of $600 million to enhance existing port infrastructure in Nigerian ports.
President Tinubu, as stated by his spokesman, Ajuri Ngelale, expressed appreciation for the investment, highlighting its alignment with the government’s ongoing $1 billion investment in seaport reconstruction across eastern and western Nigerian seaports.
The investment is expected to bolster the country’s port modernization efforts and facilitate port process automation through the implementation of the national single window project, aimed at improving trade facilitation, reducing corruption, and enhancing efficiency and transparency in port operations.
President Tinubu underscored the importance of partnerships in driving economic growth, emphasizing Nigeria’s commitment to creating an enabling environment for businesses. He assured Maersk of the government’s dedication to collaboration and support for businesses operating in the country.
Chairman Robert Maersk Uggla highlighted his company’s substantial investments of over $2 billion in Nigerian ports and other activities, demonstrating A.P Moller-Maersk’s belief in the future of Nigeria. He emphasized the potential for Nigerian ports to accommodate larger container ships and stressed the necessity of expanding port infrastructure to meet this demand and reduce logistics costs.
Maersk’s investment aims to enhance existing facilities and make Nigerian ports suitable for larger ships, particularly in Lagos, where there is a need for a larger logistics hub. Uggla expressed eagerness to explore further investment opportunities in Nigeria, emphasizing the country’s potential as the most populous nation in Africa.
The $600 million investment reflects A.P Moller-Maersk’s confidence in Nigeria’s economic prospects and its commitment to contributing to the country’s growth and development.
