Maersk, the prominent Danish shipping conglomerate, has dismissed statements made by Nigerian President Bola Tinubu regarding an alleged $600 million investment to enhance the country’s port infrastructure.
President Tinubu, while addressing the World Economic Forum (WEF) in Riyadh, Saudi Arabia, revealed that A.P. Moller-Maersk had purportedly pledged a significant investment to expand Nigerian ports’ capacity. This initiative, he asserted, aimed to accommodate larger container ships and stimulate economic growth through increased trade.
However, Maersk has rejected these claims, stating, “No such agreement is in place, and no deals have been signed.” The spokesperson of Maersk told a prominent online maritime publication, Lloyd’s List.
The discrepancy arose following a meeting between Robert Maersk Uggla, Chairman of A.P. Moller-Maersk, and President Tinubu. Despite confirming the meeting, Maersk emphasized that it was part of routine discussions with Nigerian officials and did not result in any new investment commitments.
“Maersk has been present in Nigeria for 35 years, and as a global provider of logistics services, we remain committed to developing opportunities for growth for people, the port sector, and businesses locally,” the company stated. However, it clarified, “We are not able to comment on any investment talks at this stage.”
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This clarification comes amid heightened expectations from the Nigerian government regarding potential foreign investments following the forum.
Ajuri Ngelale, a spokesperson for President Tinubu, had previously detailed the president’s successful efforts in securing the investment, a claim now disputed by Maersk.
As it stands, the company reaffirms its commitment to Nigeria but dismisses any current plans for the speculated $600 million investment. This incident underscores the importance of clear communication between governments and multinational corporations regarding financial commitments and investments.