Danish shipping and logistics company, Maersk, has refuted claims by the Nigerian Presidency that it has secured a $600 million investment deal for Nigerian ports. According to Lloyd’s List, Maersk officials confirmed that no such agreement is in place, and no deals have been signed.
Danish Shipping Giant A.P. Moller-Maersk Commits to Expanding Port Infrastructure
At the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia, President Bola Tinubu of Nigeria announced a landmark investment deal with A.P. Moller-Maersk, the renowned Danish shipping and logistics company.
The $600 million investment is earmarked for the expansion of port infrastructure in Nigerian ports, facilitating the accommodation of more container shipping services.
During a meeting on the sidelines of the forum, Mr. Robert Maersk Uggla, Chairman of A.P. Moller-Maersk, confirmed the decision to President Tinubu. This investment is poised to complement the Nigerian government’s ongoing $1 billion initiative for seaport reconstruction across both eastern and western seaports.
President Tinubu highlighted the strategic significance of this investment in advancing the country’s port modernization efforts.
He emphasized the importance of the national Single Window project, aimed at enhancing trade facilitation and reducing corruption while improving efficiency and transparency in port processes.
Expressing gratitude for Maersk’s commitment, President Tinubu reassured the company of his administration’s dedication to creating an enabling environment for businesses to thrive in Nigeria.
He referenced Maersk’s previous partnership in developing the Ogun State container terminal as a testament to successful collaboration.
Mr. Uggla reiterated Maersk’s belief in the future of Nigeria and its commitment to investing in the country. He underscored the potential for Nigerian ports to accommodate larger container ships and stressed the necessity of expanding port infrastructure, particularly in Lagos, to meet growing demand and reduce logistics costs.
File Photo Of President Tinubu And The Leadership Of Maersk During The Investment Deal
With over $2 billion already invested in Nigerian ports and related activities, A.P. Moller-Maersk remains steadfast in its commitment to Nigeria’s economic growth. The $600 million investment signals a vote of confidence in Nigeria’s potential as a key player in global trade and logistics.
As discussions continue between Maersk and Nigerian authorities, both parties are eager to explore further investment opportunities that will foster sustainable economic development and position Nigeria as a leading maritime hub in Africa.
