Maersk has denied any knowledge of a $600 million investment reportedly secured by Nigerian President Bola Tinubu with the Danish shipping and logistics firm.
According to a statement from Maersk, although its Chairman, Robert Maersk Uggla, did meet with President Tinubu during the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia, over the weekend, no new investment deal was signed.
Despite a statement issued by the Nigerian Presidency claiming that Uggla disclosed the decision to invest $600 million in existing facilities and port infrastructure during the meeting, Maersk officials have confirmed that no such agreement is in place and no deals have been signed.
While Maersk acknowledged its commitment to Nigeria and its interest in ongoing dialogues with the administration to explore opportunities for growth, the company emphasized that they cannot comment on any investment talks.
Maersk explained that as a global provider of logistics services, it has been present in Nigeria for 35 years and remains committed to developing opportunities for growth in the country.
The Nigerian government had promised to revamp its ports, including those in Lagos, to ease congestion.
Tinubu’s statement claimed that the purported Maersk investment would complement the administration’s ongoing $1 billion investment in seaport reconstruction across eastern and western Nigerian seaports.
Tinubu also stated that the investment would aid in modernizing and automating ports to improve trade, reduce corruption, and boost efficiency, expanding port infrastructure to accommodate more container shipping services in Nigerian ports.
