ADC Raises Alarm Over Nigeria-UK $746m Port Deal, Demands Transparency
The African Democratic Congress (ADC) has called on the Federal Government to fully disclose details of the £746 million port development agreement signed between Nigeria and the United Kingdom.
The deal, approved during President Bola Ahmed Tinubu’s recent state visit to the UK, is aimed at upgrading key port infrastructure in Lagos, including the Apapa and Tin Can Island ports, to boost trade and economic activities.
However, the ADC, through its National Publicity Secretary, Bolaji Abdullahi, criticised the agreement, describing it as skewed in favour of the United Kingdom and potentially burdensome for Nigeria.
The party argued that although the government has presented the deal as a diplomatic success, it is essentially a commercial loan arrangement with conditions that could favour British interests.
According to the ADC, a significant portion of the funds tied to the agreement would be spent on procuring goods and services from UK-based companies. The party also noted that part of the contract includes major supply components from British firms, raising concerns about limited local economic benefits.
The opposition party therefore demanded full disclosure of the agreement’s terms, including interest rates, repayment structure, local content provisions, and job creation prospects for Nigerians. It also questioned the level of participation for local businesses and the long-term economic impact of the deal.
While acknowledging the potential benefits of modernising Nigeria’s ports, the ADC insisted that transparency and accountability are crucial to ensure the deal truly serves national interests rather than increasing the country’s debt burden.
