Thursday, June 26, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
Home Bilateral Trade

TINUBU MEETS CHAIRMAN OF DANISH SHIPPING GIANT, SECURES $600 MILLION INVESTMENT FOR NIGERIA

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.

Newsroom Nigeria by Newsroom Nigeria
April 29, 2024
in Bilateral Trade, News
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

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 of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday.

Related posts

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

June 22, 2025

WEST AFRICA MUST TURN DEMOGRAPHIC STRENGTH AND MINERAL WEALTH INTO JOBS AND INDUSTRY, SAYS TINUBU

June 21, 2025

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.

President Tinubu with Chairman of Maersk

The President added that it would further support the country’s port modernization efforts and port process automation through his administration’s implementation of the national single window project, which is aimed at enhancing trade facilitation, easing import/export flow, reducing corruption at the ports, while improving the efficiency and transparency of port processes in Nigeria.

“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,” he said.

The President assured Maersk of his administration’s commitment to collaborating and creating an enabling environment for businesses to thrive in the country.

He cited Maersk’s previous partnership in the development of the Ogun State container terminal as a testament to fruitful partnerships with the reputable logistics company.

Highlighting Maersk’s longstanding engagement in Africa’s most populous nation and his belief in the future of Nigeria, Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla said his company had made significant investments of over $2 billion in Nigerian ports and other activities.

He emphasized 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.

”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.

”We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships.

”In 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, and we will continue that dialogue with the relevant Nigerian authorities to explore further investment opportunities,” the Maersk Chairman said.

 

ShareTweetSendShareShare
Previous Post

Civil Society Groups Condemn  Withdrawal of Police Support from Kano Anti-Corruption Agency

Next Post

Viewpoint: Efcc Versus Yahaya Bello: Is the Lion Afraid of the Eagle? 

Related Posts

BANKING

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

June 22, 2025
Foreign

WEST AFRICA MUST TURN DEMOGRAPHIC STRENGTH AND MINERAL WEALTH INTO JOBS AND INDUSTRY, SAYS TINUBU

June 21, 2025
Foreign

NIGERIA, BENIN SIGN INTEGRATION AGREEMENT AS PRESIDENTS TINUBU, TALON LEAD CALL FOR REGIONAL REFORMS

June 21, 2025
Foreign

GLOBAL ECONOMY WILL NOT WAIT FOR WEST AFRICA TO GET ITS ACT TOGETHER – TINUBU TELLS ECOWAS

June 21, 2025
INAUGURAL LECTURE: UNIVERSITY PROFESSOR OFFERS NEW PERSPECTIVES IN MARKETING
Education/Human Capital

INAUGURAL LECTURE: UNIVERSITY PROFESSOR OFFERS NEW PERSPECTIVES IN MARKETING

June 25, 2025
JUDICIARY

Seven Chinese Nationals Jailed for Cyberterrorism, Internet Fraud in Lagos

June 21, 2025
Next Post

Viewpoint: Efcc Versus Yahaya Bello: Is the Lion Afraid of the Eagle? 

RECOMMENDED NEWS

COMPANY HAS HUGE DEBT TO PAY: LAGOS EXPLAINS WHY LEKKI TOLLGATE MUST RE-OPEN

3 years ago

MY PROBLEM WITH NAIRA DESIGN, CASHLESS POLICY – TINUBU

2 years ago

OLAWEPO-HASHIM HAILS TINUBU’S NOMINATION OF ABUJA INDIGENE AS MINISTER

2 years ago

N3.7BN RAILWAY SECURITY PROPOSAL: WE REJECTED BECAUSE THE COMPANY WAS TO BE PAID UPFRONT – FG

3 years ago

FOLLOW US

POPULAR NEWS

  • Troops Foil Deadly Terrorist Attack In Niger State, Lose 17 Soldiers

    Troops Foil Deadly Terrorist Attack In Niger State, Lose 17 Soldiers

    0 shares
    Share 0 Tweet 0
  • ADEBAYO HELD ALOFT THE BANNER OF THE UPN, LED BY OBAFEMI AWOLOWO, TINUBU PENS TRIBUTE TO A TRUE STATESMAN

    0 shares
    Share 0 Tweet 0
  • INEC Receives Applications To Register Obidients People’s Party (OPP), 109 Other Political Parties Registration

    0 shares
    Share 0 Tweet 0
  • TINUBU SIGNS  FOUR TAX BILLS INTO LAW TO TRANSFORM FISCAL, REVENUE FRAMEWORK

    0 shares
    Share 0 Tweet 0
  • Lagos Assembly Lauds Obasa’s Decade of Progressive Leadership, Proposes Legislative Institute t

    0 shares
    Share 0 Tweet 0
Newsroom Nigeria

This independent, liberal online news platform aims to inform citizens about important issues. NEWSROOM NIGERIA covers political, business, economic, national, and international news. They are committed to journalism ethics and hold the government accountable.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.