Maersk CEO Denies Promising $600 Million Investment in Nigeria During Meeting with President Tinubu

The Chief Executive Officer of A.P Moller-Maersk, Robert Maersk Uggla, has publicly refuted claims that the Danish shipping giant agreed to a $600 million investment in Nigeria. The denial follows a press statement by President Bola Tinubu’s aide that suggested an investment deal was in the works during a recent meeting in Riyadh, Saudi Arabia.

Uggla met with President Tinubu at a special session of the World Economic Forum, where the Nigerian leader reportedly encouraged Maersk to consider investments in seaport reconstruction projects in Nigeria. Following the meeting, the State House released a statement indicating that Maersk intended to invest $600 million to upgrade existing seaport facilities to accommodate larger ships.

However, in an interview with UK newspaper Lloyd’s List on Tuesday, Maersk’s spokesperson contradicted the statement, clarifying that no such investment deal had been finalized. “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 to people, the port sector, and businesses locally,” said the spokesperson. “Therefore, it is natural to have an ongoing dialogue with the administration. However, we are not able to comment on any investment talks.”

This miscommunication follows a pattern of the Nigerian government inaccurately announcing agreements with foreign entities. Last September, the State House claimed that Dubai had lifted a visa ban on Nigerians, which later proved to be untrue. Seven months after the announcement, Nigerians are still restricted from entering Dubai.

The recent denial from Maersk underscores the importance of verifying official claims, particularly in a context where misinformation can have significant implications for both international relations and domestic expectations.