Business

Logistic giant, Maersk denies $600 million investment deal with Nigeria

Robert Maersk Uggla, chair of Danish shipping giant A.P Moller-Maersk, has refuted claims of signing a $600 million investment deal with the Nigerian government.

Despite a press statement by President Bola Tinubu’s aide suggesting otherwise, Mr. Maersk clarified that no such agreement exists.

The alleged investment deal was said to have been discussed during a meeting between Mr. Maersk and Mr. Tinubu at a special session of the World Economic Forum in Riyadh, Saudi Arabia.

According to the State House statement, Mr. Maersk purportedly pledged to invest $600 million in existing facilities to accommodate Nigerian ports for larger ships.

However, the Maersk group responded to the claims by stating that they were unable to comment on any investment talks.

While affirming its commitment to Nigeria and its presence for 35 years, Maersk emphasized that it remains dedicated to developing growth opportunities locally.

Nevertheless, they refrained from confirming any specific investment discussions.

“We are not able to comment on any investment talks.

“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.

“Therefore, it is natural to have an ongoing dialogue with the administration. However, we are not able to comment on any investment talks,” the Danish firm told UK newspaper Lloyd’s List on Tuesday.