DP World, a global leader in maritime logistics, has unveiled plans to invest in a multibillion-dollar port project in Nigeria.
Stanley Nkwocha, Senior Special Assistant on Media and Communications to Vice President Kashim Shettima, said the announcement was made during a meeting between Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and VP on the sidelines of the ongoing United Nations General Assembly in New York.
DP World’s proposal is seen as a direct response to President Bola Tinubu’s vigorous investment push and his administration’s commitment to enhancing the ease of doing business in Nigeria.
Sulayem said, “Nigeria is a massive market with hugely underutilised potentials. The Nigerian market can dominate this sector in Africa. It is a major African country with a huge asset and resource base.
“With our supply chain of over 2,500 points of sale to Nigeria, we will bring in the requisite capital, human and material resources needed to achieve this feat.”
DP World’s chief expressed strong confidence in Nigeria’s economic potential, highlighting the country’s significant import and export market as a major driver behind their investment decision.
In response to the initiative, Vice President Shettima praised the proposal, describing it as a clear reflection of President Bola Ahmed Tinubu’s unwavering commitment to drawing foreign investments into Nigeria.
He further underscored the administration’s continued efforts to foster a more conducive and investor-friendly environment.
“Nigeria is open to investors from around the world. We are witnessing a total rejuvenation in terms of economic policies aimed at freeing up the economy and making way for a free, fair, and enduring market,” the VP stated.
Mr Shettima assured the investors of the government’s unwavering commitment to supporting their endeavours, emphasizing the administration’s dedication to fostering foreign investment and driving sustained economic growth.
Also in attendance were the Minister of Industry, Trade, and Investment, Doris Nkiruka Uzoka-Anite; the Minister of Arts, Culture, and Creative Economy, Hannatu Musa Musawa; the Minister of Youth Development, Dr Jamila Ibrahim Bio, along with several other key stakeholders.
