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.
The transaction brings together DP World’s global logistics and supply-chain expertise with TGI’s extensive Nigerian market knowledge, distribution network and operational experience.
DP World Logistics will continue to provide road freight and contract logistics services across Nigeria while expanding its capabilities and exploring new offerings, including fourth-party logistics (4PL) solutions. The business will also leverage DP World’s international network to connect Nigerian companies to regional and global markets.
The partnership could also provide a platform for further expansion across West Africa.
The logistics transaction follows the signing in Paris of Memoranda of Understanding between the Ogun State Government and DP World MEA FZE for the development of the Gateway Deep Sea Port and Ogun State Blue Marine Special Economic Zone.
The proposed developments are designed to strengthen maritime connectivity while linking port infrastructure with logistics, manufacturing and access to regional markets.
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.
“We look forward to seeing the Company continue to grow and strengthen its contribution to Nigeria’s logistics sector,” Aiyesimoju said.
TGI Group Vice Chairman, Farouk Gumel, said the proposed acquisition reflected a shared ambition with DP World to reshape trade and logistics in Africa.
“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,” Gumel said.
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.
TGI has operated in Nigeria and the wider West African region for more than four decades, with interests spanning agriculture, food processing, FMCG manufacturing, distribution, chemicals, poultry farming, real estate and financial services. It also operates in markets including India and the United Arab Emirates and employs more than 25,000 people.
DP World operates across six continents with more than 125,000 employees, with businesses spanning ports and terminals, marine services, logistics and technology.
The TGI transaction and planned Ogun investments broaden DP World’s Nigerian footprint across maritime infrastructure, logistics, distribution and supply-chain connectivity.
