Economist Warns Nigeria-UK Port Deal May Deepen Debt Burden

An economist, Prof. Akpan Ekpo, has raised concerns over the recently signed Memoranda of Understanding (MoUs) between Nigeria and the United Kingdom, warning that the port rehabilitation deal could leave Nigeria worse off financially.

Speaking on Arise Television, Ekpo argued that the agreement would largely favour the UK, with minimal benefits for Nigeria. According to him, the arrangement risks reinforcing a dependent economic relationship while increasing Nigeria’s debt profile.

He said the planned rehabilitation of Apapa and Tin Can Island ports would rely heavily on British equipment, expertise, and financing, ultimately boosting the UK’s steel industry and financial sector rather than creating meaningful opportunities for Nigerians.

“The British have effectively turned economic diplomacy to their advantage. Most of the gains, including job creation, will go to them, while Nigeria is left with the debt burden,” Ekpo said.

However, Chairman of the Senate Committee on Inter-Parliamentary Affairs, Jimoh Ibrahim, praised President Bola Tinubu’s recent visit to the UK, describing it as a strategic engagement that strengthens Nigeria’s position on the global stage.

In a statement, Ibrahim noted that the visit came at a critical time in international relations, marked by growing competition and shifting alliances. He said Nigeria’s diplomatic outreach reflects a readiness to navigate the evolving global landscape while maintaining strong bilateral ties, including longstanding relations with the British monarchy.

Meanwhile, human rights lawyer and activist, Femi Falana (SAN), also criticised aspects of the agreements, particularly the Migration Partnership Agreement.

Falana warned that provisions allowing the return of Nigerians from the UK using so-called “UK letters” instead of standard travel documents could undermine due process and violate human rights standards. He argued that such measures lower the threshold for deportation and increase the risk of wrongful or arbitrary removals.

He further noted that the agreement may conflict with Nigeria’s Constitution, especially regarding the right to fair hearing, as it does not adequately guarantee that affected individuals can challenge their deportation or verify their citizenship.

The MoUs signed between both countries cover migration cooperation, tackling organised immigration crime, border security, and plans to expand business visa access for UK companies operating in Nigeria.