DP World deepens Nigeria push with TGI logistics partnership
DP World is expanding its Nigerian trade and logistics footprint, with Tropical General Investments (TGI) Group set to acquire a 43 per cent stake in its Nigerian logistics business, days after the global ports operator signed agreements for a $7 billion-plus deep-sea port and special economic zone in Ogun State.
The two developments mark a significant expansion of DP World’s interests in Nigeria, extending its presence from port infrastructure into logistics, distribution and integrated supply-chain services.
Under the proposed transaction announced by UAC of Nigeria Plc, TGI subsidiary, 22 Plus Invest Limited, will acquire UAC’s entire 43 per cent shareholding in DP World Logistics Limited, formerly MDS Logistics Limited, subject to regulatory approval. DP World will retain majority ownership, while UAC will exit the business.
UAC Group Managing Director, Fola Aiyesimoju, said the company had worked closely with DP World’s management to support the growth and expansion of the logistics business.
He described TGI as a strong long-term partner for DP World, citing its deep market knowledge and track record of building businesses in Nigeria.
TGI Group Vice Chairman, Farouk Gumel, said the proposed acquisition reflected a shared ambition with DP World to reshape trade and logistics in Africa, adding “By combining DP World’s global expertise with TGI Group’s deep market knowledge and extensive distribution network, we are building resilient supply chains that will unlock growth, strengthen regional connectivity and support economic prosperity for generations to come”.
DP World Africa Chief Executive Officer and Managing Director, Mohammed Akoojee, described Nigeria as “one of Africa’s most important economies and a critical market for the future of trade on the continent.”
Akoojee said the partnership would strengthen supply chains, improve the movement of goods and create new opportunities for growth in Nigeria and beyond.
