ADC Slams £746m Nigeria-UK Port Deal, Demands Transparency

The African Democratic Congress (ADC) has criticised a £746 million port rehabilitation agreement signed between Nigeria and the United Kingdom during the recent visit of President Bola Tinubu to London, describing the deal as a “mugu agreement” that allegedly favours the British economy while burdening Nigeria with significant debt obligations.

In a statement issued on Sunday by its National Publicity Secretary, Bolaji Abdullahi, the opposition party argued that the deal—aimed at rehabilitating the Tin Can and Apapa ports in Lagos—primarily benefits the UK’s manufacturing sector rather than Nigeria’s economy.

The party said the Federal Government had portrayed the agreement as a diplomatic success but maintained that it is essentially a commercial loan structured to ensure that a substantial portion of the funds returns to the UK through the procurement of British goods and services.

“Although the APC government has tried to hoodwink Nigerians by portraying the agreement to rehabilitate the Tin Can and Apapa Ports in Lagos as a diplomatic success, it is, in reality, a commercial loan arrangement with conditionalities that ensure that a substantial portion of the funds either remains within the United Kingdom or is repatriated back to it,” Abdullahi stated.

According to the ADC, the deal will be implemented through the UK Export Finance Buyer Credit Facility and arranged by Citibank’s London branch.

Under the arrangement, the party noted, foreign buyers can access loans from commercial banks to procure goods and services from UK companies.

Citing information from the UK government, the ADC said the agreement has been described as a “major vote of confidence in UK manufacturing,” adding that at least £236 million of the £746 million in supplier contracts would be awarded to British firms.

The statement further claimed that British Steel is expected to supply about 120,000 tonnes of steel billets under a £70 million contract for the port rehabilitation projects, describing it as the company’s largest export order backed by the UK export credit agency.

The party expressed concern that Nigeria could be committing to a loan arrangement that may place the country at a disadvantage.

“The Nigerian government has entered into an agreement that leaves the country at a clear disadvantage, seemingly in exchange for a few hours of pomp and pageantry,” Abdullahi added.

The ADC called on the Federal Government to ensure full transparency by disclosing details of the agreement, including interest rates, repayment terms, and the extent of local participation in the project.

It also demanded clarification on the number of jobs expected to be created for Nigerians, the timeline for completing the rehabilitation works, and provisions for skills transfer and training.

“If the APC government has answers to these questions, it should make them available to Nigerians,” the party said, warning that failure to provide such disclosures could fuel concerns that the agreement risks mortgaging the country’s future.

The party further urged the government to clarify the limits on expatriate staff involved in the project and whether quotas exist to guarantee participation by Nigerian small and medium enterprises and host communities.