President Tinubu secures $600m investment from Danish Shipping & Logistics Firms, A.P Moller-Maersk to Nigeria

President Bola Tinubu has successfully secured a $600 million investment to Nigeria from the Danish Shipping and Logistics Firm, A.P Moller-Maersk

According to Senior Adviser to President Tinubu, on Information and Strategy, Bayo Onanuga, this investment is aimed at enhancing the current port infrastructure in Nigeria to support an increased number of container shipping services.

This decision was disclosed by Mr. Robert Maersk Uggla, Chairman of A.P Moller-Maersk during a meeting on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia.

According to President Tinubu, this new investment will support the government’s existing $1 billion initiative to enhance and rebuild seaports in both the eastern and western regions of Nigeria.

The President stressed that the national single window project, part of his administration’s initiatives, will enhance trade facilitation and streamline import/export processes. Additionally, it will contribute to the modernization and automation of the country’s ports, thereby reducing corruption, and improving efficiency and transparency in Nigeria’s port operations.

President Tinubu said further, “We appreciate your business and the contribution you have made and continue to make to our country’s 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.

“More 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 minimize trans-shipments from larger ships to smaller ships.”

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