Tinubu’s UK State Visit: Behind the £746 Million Loan Deal
I followed the hype around President Tinubu’s state visit to the UK. Beyond the Windsor gala and the Downing Street meeting, he secured a £746 million loan. Don’t be fooled into thinking it’s an investment. According to the ADC spokesperson, this is a commercial loan arranged under UK Export Finance’s Buyer Credit Facility. The deal guarantees funds for UK goods and services, with major contracts going to British firms and steel supplied by British Steel. This arrangement boosts the UK steel industry and safeguards thousands of jobs there. Yet millions of Nigerians still face poverty, unemployment, and insecurity. It feels like our leaders chose foreign validation over addressing local needs.
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