Maersk, the Danish shipping giant, has denied claims made by Nigerian President Bola Tinubu that the company has committed $600 million to enhance Nigeria’s port infrastructure.
At the World Economic Forum in Riyadh, Saudi Arabia, Tinubu announced that Maersk had agreed to invest in expanding Nigerian ports to accommodate larger container ships and boost trade
But, Maersk has countered the assertions, saying, “No such agreement is in place, and no deals have been signed,” a company spokesperson told Lloyd’s List, a leading online maritime publication.
The misunderstanding occurred after a routine meeting between Robert Maersk Uggla, Chairman of A.P. Moller-Maersk, and President Tinubu. Although Maersk confirmed the meeting took place, they clarified that it was a regular discussion with Nigerian officials and did not lead to any new investment agreements or commitments, contrary to President Tinubu’s earlier announcement.
“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.”
This clarification comes amid heightened expectations from the Nigerian government about potential foreign investments following the forum.