The African Democratic Congress (ADC) has criticised the £746 million agreement signed by President Bola Tinubu during his state visit to the United Kingdom, describing it as a deal that favours the UK while leaving Nigeria with significant financial obligations. The party says the arrangement has been wrongly presented as a major achievement by the current administration.
In a statement by its National Publicity Secretary, Bolaji Abdullahi, the ADC argued that the agreement primarily benefits the UK economy by supporting its industries and protecting jobs, while Nigeria takes on a commercial loan tied to foreign goods and services.
The party said much of the funding is structured to return to the UK through procurement and financing arrangements.
Also Read: PDP Slams Move to Stop Natasha Akpoti-Uduaghan’s Senate Resumption
The ADC has called on the Federal Government to provide full details of the agreement, including interest rates, repayment terms, local content provisions, and job creation prospects. It also raised concerns about the level of participation for Nigerian businesses and the overall impact on the country’s economy.
Leave feedback about this
You must be logged in to post a comment.