DP World plans multi-billion-dollar port project in Nigeria

The international logistics and maritime giant, DP World, has announced plans to develop a multibillion-dollar port project in Nigeria.

Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, said this in a statement on Thursday.

Sultan Ahmed bin Sulayem, Group Chairman & CEO of DP World, revealed the company’s intentions during a courtesy visit to VP Shettima on the sidelines of the ongoing United Nations General Assembly in New York.

“The proposal comes as a direct response to President Tinubu’s aggressive investment drive and efforts to improve the ease of doing business in the country,” said Nkwocha.

At the meeting, Sulayem noted, “Nigeria is a massive market with hugely underutilised potentials. The Nigerian market has the capacity to 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.”

The DP World chief expressed confidence in the Nigerian economy, citing the country’s vast import and export market as a key factor in their decision to invest.

Welcoming the initiative, Vice President Shettima said the “proposal is a testament to President Bola Tinubu’s avowed commitment to attracting foreign investments” to Nigeria.

He emphasised the administration’s ongoing efforts to create a more 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 said.

Vice President Shettima also assured the investors of the government’s full support and the administration’s dedication to facilitating foreign investment and economic growth.

Others present at the meetings were the Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite; the Minister of Arts, Culture, and Creative Economy, Hannatu Musawa; and the Minister of Youth Development, Dr Jamila Ibrahim Bio, among others.