ABUJA, April 28 (Reuters) - Nigeria secured a $600
million investment in seaport infrastructure from Danish
shipping company A.P. Moller-Maersk, the presidency
said in a statement on Sunday.
The investment was secured during a meeting between
President Bola Tinubu and Moller-Maersk Chairman Robert Maersk
Uggla on the sidelines of a World Economic Forum meeting in
Saudi Arabia.
"We believe in Nigeria, and we will invest $600 million in
existing facilities and make the ports accommodating for bigger
ships," the Nigerian presidency quoted Uggla as saying during
the meeting.
Nigeria has promised to revamp its ports, including in the
commercial capital Lagos, to ease congestion that frustrates
businesses.
Tinubu said during the meeting that his government would
support the modernisation and automation of its ports to improve
trade, reduce corruption and boost efficiency.
"A bet on Nigeria is a winning bet. It is also a bet that
rewards beyond what is obtainable elsewhere," he said. "We need
to encourage more opportunities for revenue expansion and
minimize trans-shipments from larger ships to smaller ships."