Nigeria secures $600 million investment from Maersk in seaport infrastructure

Danish shipping and logistics company Maersk will be investing $600 million for expanding existing port infrastructure to accommodate more container shipping services in Nigerian ports.

Robert Maersk Uggla, chairman, A.P Moller-Maersk, 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 28 April 2024.

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.

Highlighting Maersk’s long-standing engagement in Africa’s most populous nation and his belief in the future of Nigeria, Uggla said that Maersk had made significant investments of over $2 billion in Nigerian ports and other activities.

Uggla emphasised 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.

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