Adedapo Adesanya
By Adedapo Adesanya
Nigeria has secured a $600 million investment from a Danish shipping and logistics firm AP Moller-Maersk, a statement signed by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, said on Sunday.
The Chairman of A.P Moller-Maersk, Mr Robert Maersk Uggla, was said to have confirmed this during a meeting with President Bola Tinubu on the sidelines of the World Economic Forum (WEF) Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday.
According to the statement, the deal will help the country expand its port infrastructure to accommodate more container shipping services.
“We 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,” Mr Uggla said, as per the statement.
“We believe in Nigeria and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships,” it added.
In his response, President Tinubu appreciated the firm’s contributions to the Nigerian economy.
“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,” he said.
“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,” he said.
