Bola Tinubu’s UK Trip Under Fire as Economist Questions Value of Port Deal

Story: Written by Daniel March 23,2025
A prominent economist, Akpan Ekpo, has raised concerns over the recently announced Nigeria-UK port agreement, arguing that it delivers minimal benefits to Nigeria while significantly boosting the British economy.
Speaking during an appearance on Arise Television’s Morning Show, Ekpo criticized the structure of the deal, noting that it appears to favour the United Kingdom’s industrial and financial sectors, particularly its steel industry and banking institutions.
He warned that the arrangement could deepen Nigeria’s debt exposure, adding that the promised employment opportunities may largely benefit workers in the UK rather than Nigerians. According to him, most of the machinery and materials required for the proposed port upgrades would be sourced from Britain, limiting local participation and economic impact.
Ekpo also questioned the process leading to the agreement, stressing that critical agencies such as the Nigerian Investment Promotion Commission should have been fully involved in negotiating the terms before any memorandum of understanding was signed.
In his remarks, the economist suggested that beyond the high-profile receptions and ceremonial engagements during the visit of Bola Tinubu to the United Kingdom, the underlying economic gains for Nigeria remain uncertain.
He further advocated for greater transparency and legislative oversight, recommending that such agreements be subjected to parliamentary review before approval, especially when they involve long-term financial commitments that could impact future generations.
Ekpo concluded that while the UK may strengthen its industries through the deal, Nigeria must be cautious to ensure that international partnerships translate into tangible, inclusive economic benefits for its citizens.