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Tinubu Secures $600m Investment From A.P Moller-Maersk — Presidency

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President Bola Tinubu has secured a $600m investment from Danish shipping and logistics firm A.P Moller-Maersk, the presidency said on Sunday.

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, presidential spokesman Ajuri Ngelale said in a statement.”We have seen a significant opportunity for Nigeria to cater for larger container ships.

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

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