The presidency has taken steps to substantiate its assertion regarding a $600 million investment commitment secured from A.P Moller-Maersk, a Danish shipping company.
A video released by the presidency on Wednesday depicts Keith Svendsen, chairman of APM Terminals, affirming the investment pledge during a meeting with Doris Uzoka-Anite, the minister of industry, trade and investment.
In the video, Svendsen detailed the company’s intention to invest half a billion dollars in upgrading port facilities in Apapa. “Our proposal is to upgrade the Apapa port facility with our partners there and invest half a billion dollars in upgrading the facilities,” Svendsen stated during the meeting.
Ajuri Ngelale, special adviser to the president on media and publicity, reiterated the $600 million investment commitment in a statement on April 28. Ngelale highlighted that Robert Uggla, chairman of A.P Moller-Maersk, made the commitment during a meeting with President Bola Tinubu on the sidelines of the World Economic Forum in Saudi Arabia.
However, a report by Lloyd’s List on April 29 cast doubt on the existence of a $600 million investment deal between Maersk and the Nigerian government. Officials of the logistics firm conveyed that no such deal was signed, emphasizing their ongoing commitment to developing opportunities for growth in Nigeria.
“Maersk has been present in Nigeria for 35 years and, as a global provider of logistics services, we remain committed to develop opportunities for growth to people, the port sector and businesses locally,” the company told Lloyd’s List.
“Therefore, it is natural to have an ongoing dialogue with the administration. However, we are not able to comment on any investment talks.”
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In response to the report, Bayo Onanuga, special adviser on information and strategy to the president, clarified on May 1 that no formal agreement was reached between the federal government and Maersk. Onanuga cited Maersk’s statement, acknowledging the ongoing dialogue with the administration but refraining from commenting on investment talks.
Despite the assertions made by Maersk officials, the presidency maintains its stance on the investment commitment, supported by the released video footage of the meeting between Svendsen, the minister, and other stakeholders. The discrepancy between the presidency’s claim and Maersk’s response has sparked further scrutiny and calls for clarification on the nature of the investment discussions.
Watch the video clip below and the mixed responses of the audience