Tinubu secures Maersk’s $600mn investment for Nigeria’s ports infrastructure

has secured an additional $600 million foreign investment for the expansion of the nation’s ports infrastructure to accommodate more container shipping services in Nigeria’s ports.

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.

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

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