Nigeria–UK Port Deal May Deepen Debt, Says Economist As Senator Praises Tinubu’s Diplomacy

Nigeria–UK port deal may deepen debt, says economist as senator praises Tinubu’s diplomacy An economist, Akpan Ekpo, has warned that Nigeria’s recent port agreement with the United Kingdom could increase the country’s debt burden, sparking debate over the benefits of the deal. However, Senator Jimoh Ibrahim has defended President Bola Tinubu’s engagement with the UK, describing it as a move that enhances Nigeria’s global standing. Prof Ekpo said the agreement to rehabilitate key Nigerian ports may not deliver significant benefits to the country. Speaking on television, he argued that the deal would largely favour the British economy, warning it could leave Nigeria more indebted. According to him, much of the equipment, financing and technical input for the project would come from the UK, meaning the economic gains including job creation may primarily benefit British firms and workers.

He added that the arrangement reflects an imbalance in economic relations, cautioning that Nigeria risks taking on financial obligations without corresponding domestic gains. The port deal is part of broader Memoranda of Understanding signed between Nigeria and the UK during President Tinubu’s recent visit. The agreements include cooperation on migration, border security and trade, as well as plans to expand business opportunities between both countries. The port component specifically focuses on the rehabilitation of major facilities such as Apapa and Tin Can Island ports, which are critical to Nigeria’s trade infrastructure. In contrast, Senator Jimoh Ibrahim praised the President’s diplomatic outreach, calling it a strategic step in strengthening Nigeria’s international relevance. He said the visit comes at a time of shifting global dynamics and reflects Nigeria’s willingness to engage constructively in international affairs. According to Ibrahim, the engagement demonstrates Nigeria’s commitment to multilateral cooperation and positions the country to navigate emerging global challenges. He also highlighted the symbolic importance of Tinubu’s interaction with the British monarchy, saying it reinforces longstanding ties between both nations The agreements have also drawn criticism from other quarters. Human rights lawyer Femi Falana raised concerns about the migration partnership, warning it could undermine due process and constitutional safeguards by facilitating deportations without adequate verification. He cautioned that such arrangements may expose individuals to wrongful or arbitrary removal Nigeria and the UK recently signed multiple agreements aimed at strengthening bilateral relations, including economic cooperation and migration management.

While supporters view the deals as opportunities for growth and global engagement, critics argue they may deepen economic dependence and raise legal and human rights concerns.

As discussions continue, the long-term impact of the port deal particularly on Nigeria’s debt profile and economic development remains a subject of national debate.