{"id":117273,"date":"2024-04-28T21:05:25","date_gmt":"2024-04-28T20:05:25","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/tinubu-secures-600m-seaport-infrastructure-investment-with-shipping-giant-maersk"},"modified":"2024-04-28T23:16:38","modified_gmt":"2024-04-28T22:16:38","slug":"tinubu-secures-600m-seaport-infrastructure-investment-with-shipping-giant-maersk","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-secures-600m-seaport-infrastructure-investment-with-shipping-giant-maersk","title":{"rendered":"Tinubu secures $600m seaport infrastructure investment with shipping giant Maersk"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>President Bola Tinubu has secured an investment of $600 million from Danish shipping and logistics company A.P. Moller-Maersk to expand existing port infrastructure to accommodate more container shipping services in Nigerian ports.<\/p>\n

Chairman of A.P. Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision 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, on Sunday.<\/p>\n

President Tinubu noted that this investment will complement the administration\u2019s ongoing $1 billion investment in seaport reconstruction across the eastern and western seaports of Nigeria.<\/p>\n

According to the President, it would further support the country\u2019s port modernisation efforts and port process automation through his administration\u2019s implementation of the national Single Window project, which is aimed at enhancing trade facilitation, easing import-export flow, and reducing corruption at the ports, while improving the efficiency and transparency of port processes in Nigeria.<\/p>\n

\u201cWe appreciate your business and the contribution you have made and continue to make to our country\u2019s economy over time. We do not take our partners for granted. A bet on Nigeria is a winning bet. It is also a bet that rewards beyond what is obtainable elsewhere.<\/p>\n

\u201cMore investment opportunities are available, and my government has worked on various reforms to encourage investments. We need to encourage more opportunities for revenue expansion and minimise trans-shipments from larger ships to smaller ships,\u201d he said.<\/p>\n

The President further assured Maersk of his administration\u2019s commitment to collaborating and creating an enabling environment for businesses to thrive in the country.<\/p>\n

He cited Maersk\u2019s previous partnership in the development of the Ogun State container terminal as a testament to fruitful partnerships with the reputable logistics company.<\/p>\n

Highlighting Maersk\u2019s longstanding engagement in Africa\u2019s most populous nation and his belief in the future of Nigeria, A.P. Moller-Maersk\u2019s chairman, Robert Maersk Uggla, said his company had made significant investments of over $2 billion in Nigerian ports and other activities.<\/p>\n

He emphasised the potential for Nigerian ports to accommodate larger container ships and stressed the need for expanding port infrastructure to meet this demand while reducing the cost of logistics.<\/p>\n

\u201dWe have seen a significant opportunity for Nigeria to cater for larger container ships. Historically, most of the West African coasts are already served by smaller ships. Currently, we see an opportunity to deploy larger ships to Nigeria. To achieve this, we need to expand the port infrastructure, especially in Lagos, where we need a bigger hub for logistics services. The growth potential is hard to quantify.<\/p>\n

\u201dWe believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships.<\/p>\n

\u201dIn my humble view, given that Nigeria is the most populous country in Africa, Nigeria should have the best and biggest port and we are very eager to invest. We will continue that dialogue with the relevant Nigerian authorities to explore further investment opportunities,\u201d the Maersk chairman said.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. President Bola Tinubu has secured an investment of $600 million from Danish shipping and logistics company A.P. Moller-Maersk to expand existing port infrastructure to accommodate more container shipping services in Nigerian ports. Chairman of A.P. Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision during a meeting with President Tinubu on the sidelines […]<\/p>\n","protected":false},"author":84,"featured_media":117271,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,945],"class_list":["post-117273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-tinubu"],"yoast_head":"\nTinubu secures $600m seaport infrastructure investment with shipping giant Maersk - Nigeria<\/title>\n<meta name=\"description\" content=\"President Bola Tinubu has secured an investment of $600 million from Danish shipping and logistics company A.P. 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