By Akinsuroju Olubunmi
Maersk plans $600m investment in Nigerian seaports
Danish shipping giant A.P. Moller-Maersk announced its intention to inject $600 million into Nigerian seaports to enhance container shipping services. This decision emerged from discussions between President Bola Tinubu and Maersk’s Chairman, Mr. Robert Maersk Uggla, during the World Economic Forum Special Meeting on Global Collaboration in Riyadh, Saudi Arabia.
Maersk’s Chairman expressed confidence in Nigeria’s potential and pledged the investment to expand existing port infrastructure. President Tinubu welcomed the investment, highlighting its alignment with the government’s ongoing $1 billion investment in seaport reconstruction and port modernization efforts.
Acknowledging Maersk’s past contributions to Nigeria’s economy, Tinubu emphasized the country’s commitment to fostering a conducive environment for businesses. He cited Maersk’s previous partnership in developing the Ogun State container terminal as a successful example.
Mr. Uggla emphasized Nigeria’s capacity to accommodate larger container ships and stressed the importance of expanding port infrastructure, particularly in Lagos. He expressed eagerness to explore further investment opportunities in Nigeria, considering its status as Africa’s most populous country.
The trade relationship between Nigeria and Denmark has seen steady growth, with significant exchanges in goods and services. In 2021, Nigeria exported goods worth $231 million to Denmark, primarily crude petroleum, while Denmark exported goods valued at $269 million to Nigeria, including products like margarine and frozen fish.
Both countries have also collaborated on initiatives related to renewable energy and climate change. Denmark has expressed interest in assisting Nigeria with renewable energy projects, including wind power, to improve the country’s power supply.
Maersk’s commitment to investing in Nigerian seaports further strengthens the partnership in the maritime sector, where Danish ships play a crucial role in transporting Nigeria’s shipments.
Maersk plans $600m ,Investment, Nigerian Seaports
(Maersk Investment and Nigerian Seaports)