The Ministry of Trade and Investment has released a video to confirm that indeed Maersk Terminals Chief Executive Officer, Keith Svendsen made a commitment of $600 million investment to Nigeria to expand facilities at the seaports.
Svendsen is seen in the video detailing the company’s $600 million investment commitment during a visit to the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite in February 2024. He reaffirmed Maersk’s commitment to investing more in Nigeria.
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Controversy arose when a publication quoted the company as saying “Maersk officials have confirmed that no such agreement is in place and no deals have been signed”.
However in the video, Maersk Terminals CEO outlined plans to allocate an initial $100 million, with an additional “Half-Billion dollars” ($500 million) earmarked for port investment in Lagos, Nigeria.
Sunday’s Riyadh meeting between President Tinubu and the Maersk Chairman was another opportunity the Presidency says it seized to reconfirm Maersk’s expanding port investment interest in Nigeria.
(Editor: Terverr Tyav)
