An economist, Prof. Akpan Ekpo, has criticized the recent Nigeria-UK port agreement, arguing it primarily benefits the British economy.

Speaking on Arise TV, he warned that the deal would favor the UK’s steel industry and banks while increasing Nigeria’s debt burden.

Ekpo added that most of the equipment for port rehabilitation would come from the UK, limiting job opportunities for Nigerians.

He also questioned the negotiation process, saying Nigeria’s Investment Promotion Commission should have been fully involved before signing the MoU.

According to the economist, the deal offers little tangible gain beyond ceremonial events, such as banquets and receptions for officials.

He cautioned that such agreements could deepen Nigeria’s debt and called for parliamentary oversight to ensure long-term national benefits.