UAC of Nigeria Plc has announced plans to sell its 43% equity stake in DP World Logistics Limited to 22 Plus Invest Limited, a subsidiary of the Nigerian conglomerate Tropical General Investments (TGI), in a deal poised to reshape Nigeria’s logistics landscape. The transaction, disclosed in a corporate filing dated September 24, 2026, requires regulatory approval before completion. UAC, which has collaborated with DP World Logistics’ management for years to expand the company, cited TGI’s market expertise and track record as reasons for the sale. Group Managing Director Fola Aiyesimoju stated the move would ensure DP World Logistics’ continued growth and contribution to Nigeria’s logistics sector.
The acquisition marks TGI’s strategic expansion into logistics, complementing its existing operations in agriculture, FMCG, real estate, and financial services. Farouk Gumel, TGI’s Vice Chairman, emphasized the partnership’s potential to strengthen regional trade networks, combining DP World’s global logistics capabilities with TGI’s local distribution infrastructure. DP World Logistics, part of the global DP World network, operates across ports, marine services, and technology, employing over 125,000 people worldwide. TGI, which has operated in Nigeria and West Africa for over four decades, employs more than 25,000 staff and has expanded to markets like India and the UAE.
UAC’s divestment aligns with its broader focus on packaged foods, beverages, and real estate, while TGI aims to deepen its logistics footprint. The transaction’s financial terms remain undisclosed, with UAC directing inquiries to its investor relations portal. The deal underscores growing private-sector collaboration to enhance supply chain resilience, a critical priority for Africa’s economic development. Analysts note the move could accelerate trade integration across the continent, leveraging TGI’s domestic reach and DP World’s international expertise.
The partnership reflects broader trends in Nigeria’s corporate sector, where diversification and strategic alliances are key to navigating economic challenges. For UAC, the sale represents a shift in its investment strategy, while TGI gains a foothold in a sector vital to regional commerce. As regulatory processes unfold, stakeholders await further details on how the collaboration will impact Nigeria’s logistics ecosystem and its role in Africa’s trade corridors.