President Bola Tinubu’s government has once again been caught spreading false information
Robert Maersk Uggla held discussions with Nigerian President Bola Tinubu over the weekend, but contrary to claims by the president, no new investment deal worth $600 million was finalized.
President Bola Tinubu asserted that he had secured a substantial investment of $600 million from the Danish shipping and logistics giant, Maersk. However, Maersk has contradicted these claims, stating that no such agreement has been established, and no deals have been formally signed.
The announcement of the purported $600 million investment into Nigeria’s port sector by President Tinubu was made during a personal statement on Sunday. It was claimed that the investment was secured during a World Economic Forum meeting held in Riyadh over the weekend.
However, Maersk officials have clarified that no such agreement exists.
Although the Nigerian government released a statement detailing discussions between A.P Moller-Maersk chairman Robert Maersk Uggla and President Tinubu regarding the investment, Maersk has confirmed that no deal has been finalized.
While acknowledging the ongoing dialogue with the Nigerian administration, Maersk emphasized its commitment to developing growth opportunities locally but refrained from commenting on specific investment talks.
The timing of Maersk’s response coincides with its upcoming first-quarter results report, restricting management from making public statements about the company’s activities.
Nigeria has pledged to enhance its ports’ infrastructure, including those in Lagos, to alleviate congestion.
President Tinubu highlighted his government’s support for port modernization and automation to enhance trade efficiency and combat corruption.
He asserted that the purported Maersk investment would complement the administration’s existing $1 billion investment in seaport reconstruction across Nigeria’s eastern and western seaports.
President Tinubu emphasized Nigeria’s potential as a lucrative investment destination, advocating for more revenue expansion opportunities and minimizing trans-shipments from larger to smaller ships.
President Bola Tinubu’s government has once again been caught spreading false information. This is not the first instance of such an incident. On Sep 11, 2023, the government claimed to have secured a deal with the UAE to lift the visa ban on Nigerian citizens, which was later debunked as false.
Now, they have been accused of fabricating a $600 million investment deal with Maersk, which the company has categorically denied. This trend of peddling fake news by the government is becoming increasingly concerning and undermines public trust.
