Maersk declines confirming Tinubu Presidency’s $600m investment claim

Days after the Bola Ahmed Tinubu’s Presidency claimed a $600 million seaport infrastructure investment deal was sealed during the President’s meeting with Chairman of Danish shipping and logistics company, A.P Moller-Maersk, Robert Uggla, in favour of Nigeria, fact-check has revealed there was no such deal.

This was as the Danish shipping and logistics company boss reportedly avoided comments on the subject matter.

Recall that last Sunday, President Bola Tinubu and the company’s Chairman, Robert Uggla, held closed-door meeting on the sidelines of the World Economic Forum Special Meeting in Riyadh, Kingdom of Saudi Arabia.

In a statement by Tinubu’s spokesperson, Ajuri Ngelale, titled ‘President Tinubu meets Chairman of Danish shipping giant Maersk; secures $600 million investment in Nigerian seaport infrastructure,’ he quoted Uggla as saying, “We believe in Nigeria, and we will invest $600m in existing facilities and make the ports accommodating for bigger ships.”

Tinubu had stated that such an investment would complement the administration’s ongoing $1bn investment in seaport reconstruction across Nigeria’s eastern and western seaports.

However, in a statement issued by the company, as reported by Lloyd’s List, a global maritime insight, data, and analytics website; officials of the shipping and logistics giant said, “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 said in a statement to 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.”

While reacting to several media reports that Maersk denied such a million-dollar investment in Nigeria, Tinubu’s Special Assistant on Social Media, Dada Olusegun, late Tuesday, said the company hasn’t denied the FG’s statements.

Olusegun, who tweets with the username @DOlusegun on X.com, wrote, “The media’s headline choice sparked controversy, not Maersk’s. Maersk hasn’t contradicted or denied the Federal Government of Nigeria’s statements.”