Nigeria has received a $600 million investment from A.P. Moller-Maersk, a Danish shipping conglomerate, for the enhancement of seaport infrastructure. This development was announced following discussions between Nigerian President Bola Tinubu and Moller-Maersk's Chairman, Robert Maersk Uggla, at a World Economic Forum event in Saudi Arabia.
Uggla stated: "We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships." The Nigerian government has committed to modernizing and automating its seaports, including those in Lagos, to mitigate congestion issues that impede business operations. President Tinubu emphasized the initiative's potential to facilitate trade, diminish corruption, and increase operational efficiency within the country's ports.
Source: cnbcafrica.com
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