President Bola Tinubu has secured an investment of $600 million from the Danish Shipping and Logistics Company to expand existing port infrastructure 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 of the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia.
President Tinubu noted that this investment will complement the administration’s ongoing $1 billion investment in seaport reconstruction across the Eastern and Western Seaports of Nigeria.
The President added that it would further support the country’s port modernization efforts and port process automation through the implementation of the national single window project, 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.
