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.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.

According to the President, it would further support the country’s port modernisation 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, and 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 minimise trans-shipments from larger ships to smaller ships,” he said.