Economist criticises Nigeria-UK port deal, says it favours UK economy
Prof. Akpan Ekpo has criticised the Nigeria-UK port deal, arguing it primarily benefits the British economy rather than Nigeria. Speaking on Arise Television's Morning Show, Ekpo stated the agreement would revitalise the UK's steel industry and banking system while increasing Nigeria's debt burden. He noted that job creation would largely benefit British workers, not Nigerians, and that most port rehabilitation equipment would be sourced from the UK. Ekpo also faulted the negotiation process, insisting the Investment Promotion Commission should have been involved before any memorandum of understanding was signed. He warned that the deal could trap Nigeria in long-term debt and called for parliamentary review of the MOU. "The British government has turned economic diplomacy upside down," he said, "giving glamorous receptions while strengthening their steel industry."