Home Business Again, Tinubu Shares False News, Claims $600m Investment Deal With Danish Shipping Powerhouse

Again, Tinubu Shares False News, Claims $600m Investment Deal With Danish Shipping Powerhouse

Tinubu Danish
Bola Tinubu at the World Economic Forum, Riyadh, SA, 2024.

President Bola Ahmed Tinubu’s administration has once again shared false news with the public, claiming a $600m investment deal with a Danish Shipping Powerhouse.

During a World Economic Forum meeting in Riyadh, Saudi Arabia, the Nigerian government said President Tinubu had secured a $600 million investment from A.P. Moller-Maersk on Sunday.

This investment was said to bolster existing port infrastructure in Nigeria, accommodating more container shipping services.

Tinubu’s statement highlighted how this investment would complement the government’s ongoing $1 billion investment in seaport reconstruction, stating, “We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships.

However, Robert Maersk Uggla, the chairman of the Danish shipping powerhouse A.P. Moller-Maersk, has refuted any involvement in the purported $600 million investment deal with the Nigerian government.

Despite Tinubu’s claim, Maersk officials have clarified that no such deal exists.

On Tuesday, the group told UK newspaper Lloyd’s List that it could not 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 company said.

This false claim, and the UAE claims,  underscores a concerning trend of the Nigerian government making inaccurate assertions about securing agreements with foreign entities.

Read: Nigerian Passport Remains Among World’s Least Powerful, Ranks 191st Globally

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