MAERSK INjects $600 MILLION FOR NIGERIAN PORT BOOST

Investment Secured:

• Danish shipping giant A.P. Moller-Maersk pledged $600 million to upgrade existing port infrastructure in Nigeria.
• The deal was secured by President Bola Tinubu during the World Economic Forum (WEF) meeting in Riyadh, Saudi Arabia.

Project Goal:

• The investment aims to expand port facilities to handle larger container ships, increasing efficiency and capacity for Nigerian ports.

Official Announcement:

• The news was confirmed in a statement released on Sunday by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale.

Expected Outcome:

• This significant investment is expected to improve Nigeria’s trade capabilities and potentially reduce congestion issues at its ports.