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PRESIDENT TINUBU MEETS CHAIRMAN OF DANISH SHIPPING GIANT MAERSK; SECURES $600 MILLION INVESTMENT IN NIGERIAN SEAPORT INFRASTRUCTURE

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President Bola Tinubu has secured an investment of $600 million from Danish shipping and logistics company, A.P Moller-Maersk, to expand existing port infrastructure to accommodate more container shipping services in Nigerian ports.

Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision during a meeting with President Tinubu on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday.

President Tinubu noted that this investment will complement the administration’s ongoing $1 billion investment in seaport reconstruction across the eastern and western seaports of Nigeria.

The President added that it would further support the country’s port modernization efforts and port process automation through his administration’s implementation of the national single window project, which is aimed at enhancing trade facilitation, easing import/export flow, reducing corruption at the ports, while improving the efficiency and transparency of port processes in Nigeria.

“We appreciate your business and the contribution you have made and continue to make to our country’s economy over time. We do not take our partners for granted. A bet on Nigeria is a winning bet. It is also a bet that rewards beyond what is obtainable elsewhere.

“More investment opportunities are available, and my government has worked on various reforms to encourage investments. We need to encourage more opportunities for revenue expansion and minimize trans-shipments from larger ships to smaller ships,” he said.

The President assured Maersk of his administration’s commitment to collaborating and creating an enabling environment for businesses to thrive in the country.

He cited Maersk’s previous partnership in the development of the Ogun State container terminal as a testament to fruitful partnerships with the reputable logistics company.

Highlighting Maersk’s longstanding engagement in Africa’s most populous nation and his belief in the future of Nigeria, Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla said his company had made significant investments of over $2 billion in Nigerian ports and other activities.

He emphasized the potential for Nigerian ports to accommodate larger container ships and stressed the need for expanding port infrastructure to meet this demand while reducing the cost of logistics.

”We have seen a significant opportunity for Nigeria to cater for larger container ships. Historically, most of the West African coasts are already served by smaller ships. Currently, we see an opportunity to deploy larger ships to Nigeria. To achieve this, we need to expand the port infrastructure, especially in Lagos, where we need a bigger hub for logistics services. The growth potential is hard to quantify.

”We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships.

”In my humble view, given that Nigeria is the most populous country in Africa, Nigeria should have the best and biggest port and we are very eager to invest, and we will continue that dialogue with the relevant Nigerian authorities to explore further investment opportunities,” the Maersk Chairman said.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

April 28, 2024

Politics

Elon Musk Contributes Nearly $75 Million To Boost Trump’s Presidential Campaign

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According to recent filings with the Federal Election Commission (FEC), Billionaire Elon Musk has contributed almost $75 million to a political action committee (PAC) he established to back Donald Trump’s 2024 presidential campaign.

The donation underscores Musk’s growing involvement in Trump’s bid for the White House.

Musk, the world’s richest man, has become increasingly active in the Republican campaign.

He joined Trump on stage at a Pennsylvania rally and regularly criticizes his Democratic opponent, Kamala Harris, on social media.

Trump has praised Musk at campaign events and promised to appoint him to a committee to reduce government bureaucracy if re-elected.

Musk’s America PAC raised $74.95 million between July and September, focusing on grassroots efforts to boost voter turnout in key battleground states like Pennsylvania.

The PAC’s website offers volunteers $30 per hour to help increase voter participation, with performance bonuses available.

In contrast, Kamala Harris’s Harris Victory Fund PAC raised $633 million during the same period.

Harris, who entered the presidential race after President Joe Biden’s withdrawal, has energized the Democratic base with a strong campaign focused on swing states.

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Orji Uzor Kalu reveals amount he earns monthly as senator

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The lawmaker representing Abia North in the Senate, Orji Uzor Kalu, has disclosed that he earns a total of N14 million every month as a Senator.

The Senator, who was a guest on Channels Television’s Politics Today on Thursday, dismissed the belief among some Nigerians that lawmakers are living in affluence while the masses live in poverty.

“I earn N14 million for everything in a month. That is everything encompassing, the overhead, the worker’s salary, everybody,” Uzor-Kalu said.

Uzor Kalu, who is a former governor of Abia State, argued that the N14 million is not enough to buy petrol to travel to his constituency, maintain the constituency office among other things.

No official vehicles for lawmakers
One of the most controversial issues that have always been raised against the national assembly is the luxury cars given to lawmakers as their official vehicles.

However, Senator Uzor Kalu denied that lawmakers are given official personal vehicles, saying that the only the various committees in the national assembly that are given vehicles.

“I am in the Senate and a lot of things are said about the Senators and I sit there quietly and watch, and most of these things are not true. All I know is that committees get vehicles, no lawmaker is given any vehicle,” the Senator said.

On the economic hardship in Nigeria, Senator Uzor Kalu said it is not peculiar to Nigeria as the impact of COVID-19 is still affecting economies globally. He said the only reason some countries are no longer feeling the COVID-19 impact the way Nigeria is feeling it is because they have built a robust economy for a very long period.

According to him, President Bola Tinubu is aware of the country’s unstable economy and is taking steps to address the challenges facing Nigeria.

“The president himself knows that Nigerians are suffering and hungry. He is a street person; he knows the street very well.

“The president some nights uses his car to go around and know what is happening in Abuja here,” he said.

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NATO opens its doors: Putin is furious

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NATO opens its doors: Putin is furious © Pixabay
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NATO Secretary General, Mark Rutte , said on Thursday that Ukraine would be a NATO member state in the future.

He also acknowledged that he was unable to say exactly when the country would join the transatlantic organization.

Arriving at the meeting of the Atlantic Alliance’s defense ministers in Brussels from today to Friday, Rutte said that at the moment, it seemed that Ukraine would become the 33rd ally, with NATO currently having 32 members, while admitting that another country could join the transatlantic organization before Kiev. A demonstration of NATO’s determination to thwart Moscow’s plans.

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