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Nigeria’s opposition condemns £746M UK-Nigeria port deal, citing unfair terms and UK firm dominance.
The African Democratic Congress (ADC) has condemned a £746 million UK-Nigeria port deal, calling it a loan that primarily benefits British companies, with at least £236 million in contracts going to UK firms, including a £70 million steel deal with British Steel.
The agreement, facilitated by UK Export Finance and Citibank, funds Lagos port upgrades but raises concerns over unfavorable terms, limited local economic gains, and lack of transparency on interest rates, repayment, job creation, and skills transfer.
The ADC warns the deal risks undermining Nigeria’s sovereignty and resembles colonial-era arrangements, urging full disclosure to prevent public distrust.
La oposición de Nigeria condena el acuerdo portuario entre el Reino Unido y Nigeria por 746 millones de libras, citando términos injustos y el dominio firme del Reino Unido.