International maritime giant, DP World, has announced plans to develop a multibillion-dollar port project in Nigeria.
The Group Chairman & CEO of DP World, Sultan Ahmed bin Sulayem, revealed the company’s intentions during a courtesy visit to Vice President Kashim Shettima on the sidelines of the ongoing 79th United Nations General Assembly, in New York.
According to Shettima’s spokesman, Stanley Nkwocha, the proposal comes as a direct response to President Bola Tinubu’s aggressive investment drive and efforts to improve the ease of doing business in the country.
Sulayem said, “Nigeria is a massive market with hugely underutilized 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 Ahmed Tinubu’s avowed commitment to attracting foreign investments” to Nigeria.
He emphasized 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,” Shettima said.
Vice President Shettima further assured the investors of the government’s full support and the administration’s dedication to facilitating foreign investment and economic growth.