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Nigeria secures $600m investment from Maersk to expand seaport infrastructure

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Nigeria has secured a $600 million investment from A.P Moller-Maersk, a Danish shipping and logistics company, for seaport infrastructure

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He said the investment would complement his administration’s ongoing $1 billion investment in seaport reconstruction across the eastern and western seaports of Nigeria.Tinubu said the funds would further support Nigeria’s port modernisation efforts and port process automation through his administration’s implementation of the national single window project.

“We need to encourage more opportunities for revenue expansion and minimise trans-shipments from larger ships to smaller ships.” Uggla, who acknowledged the potential for Nigerian ports to accommodate larger container ships, stressed the need for expanding port infrastructure to meet demand, while reducing the cost of logistics.

 

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