Tinubu’s UK visit: Nothing to gain except sumptuous banquet, glamorous reception – Economist

An economist, Prof. Akpan Ekpo, has criticised the caller Nigeria-UK larboard deal, saying it offers small payment to Nigeria portion favouring the British economy.

Speaking connected Arise Television’s Morning Show connected Monday, Ekpo argued that the statement would chiefly enactment the United Kingdom’s concern and fiscal sectors, peculiarly its alloy manufacture and banking system.

He said the woody could summation Nigeria’s indebtedness burden, informing that the projected occupation instauration would mostly payment British workers alternatively than Nigerians.

According to him, astir of the instrumentality required for larboard rehabilitation nether the statement would beryllium sourced from the UK, further limiting section economical gains.

Ekpo besides faulted the process starring to the agreement, stressing that applicable institutions specified arsenic the Investment Promotion Commission should person been allowed to afloat negociate the presumption earlier immoderate memorandum of knowing (MoU) was signed.

He said: Well, I deliberation the British authorities is precise clever. They’ve turned economical diplomacy upside down and reinforced our caller assemblage status.

“What that woody that you’ve mentioned, you’ve detailed, would lone payment the British economy, revitalize their alloy industry, which was ailing, and besides heighten their banks.

“At the extremity of it, Nigeria volition beryllium into debt. You know, the truthful called occupation instauration is jobs for the British, no...