Presidency Makes U-turn, Says No Deal Was Reached Between FG, Maersk Company

The Presidency has made a U-turn on claim that the federal government and Danish shipping giant, A.P. Møller – Mærsk A/S, signed a $600m investment in Africa’s biggest economy.

The Special Adviser to President Bola Tinubu, Bayo Onanuga, reversed himself on his previous claim after the company denied such purported investment.

Recall that Tinubu traveled to Riyadh, Saudi Arabia for the World Economic Forum as part of his routine campaign to woo investors into Nigeria.

In a statement issued on Sunday, Ajuri Ngelale, the presidential spokesperson, said the Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the investment deal was reached during a meeting with President Tinubu on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on the same day.

“We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships,” Uggla was quoted as saying by Ngelale

However, Maersk officials confirmed that no such agreement is in place and no deals have been signed.

Despite the direct quote credited to Uggla in the statement released by the presidency, according to Maersk, that deal does not exist.

Company officials said while Uggla did meet the president, no such deal had been signed.

“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.”

Following the exposé, Onanuga has also admitted that no investment decision was reached between his principal and the Maersk executive.

The presidential aide said, “I think the statement issued by Maersk did not talk about a deal. There was no deal according to that statement that I read. However, there was talk of investment,” the special adviser said.

“No document or agreement was signed, so there was no deal. But there was talk of a possible investment in the country.

“So, go and read the statement again. They never said any deal was signed between the Nigerian government and the Dutch company. There was nothing like that.”