₦airaland Forum

The much hyped State visit to the UK has come and gone. Now we have a more clear idea of what he went there to do. Beyond the party in Windsor and the visit to 10 Downing Street, it is clear that Tinubu went to ask for a loan of 746 Million Pounds. I dont want to check how much that is in Naira before my head shatters

Please do not be received into thinking this is an investment, Britain gives no country £746 million for nothing. A recent statement by ADC's National Publicity Secretary, Bolaji Abdullahi, explained what the money is for. He said the APC government has tried to pass off the deal as Tinubu’s major achievement, it was in fact an achievement of the UK Government, which, through this deal, has managed to save its steel industry, protect thousands of UK jobs, and get Nigeria to pay for it.



”Although the APC government has tried to hoodwink Nigerians by portraying the agreement to rehabilitate the Tin Can and Apapa Ports in Lagos as a diplomatic success, it is, in reality, a commercial loan arrangement with conditionalities that ensure that a substantial portion of the funds either remains within the United Kingdom or is repatriated back to it.

”Based on information available on the UK Government website, which described the deal as a ‘major vote of confidence in UK manufacturing’, the £746 million agreement will be delivered through UK Export Finance’s (UKEF) Buyer Credit Facility and arranged by Citibank, N.A., London Branch.

“UKEF is the UK Government’s export credit agency. Its Buyer Credit Facility enables foreign buyers to access financing from commercial banks to procure UK goods and services, typically for projects that require significant UK content participation.

”In simple terms, UKEF guarantees a loan obtained by a foreign buyer from a commercial bank, which is then used to pay for UK goods and services, with the bank paying the UK exporter directly on behalf of the buyer.

”Under this agreement, at least £236 million of the £746 million in supplier contracts will be awarded to British companies, while British Steel will supply 120,000 tonnes of steel billets under a £70 million contract, representing its largest UKEF-backed export order, for port rehabilitation projects,” Abdullahi stated.

He said that the ADC was particularly concerned that the Nigerian government has entered into an agreement that left the country at a clear disadvantage, seemingly in exchange for a few hours of pomp and pageantry, and as part of a broader attempt to secure foreign validation, even as millions of Nigerians continue to face poverty, unemployment, and worsening insecurity.



https://www.thisdaylive.com/2026/03/23/adc-tinubus-port-rehab-agreement-a-mugun-deal-loan-is-to-fund-uk-economy/

He has nothing to offer Nigeria except borrowing money that will be looted ..

gidgiddy:
The much hyped State visit to the UK has come and gone. Now we have a more clear idea of what he went there to do. Beyond the party in Windsor and the visit to 10 Downing Street, it is clear that Tinubu went to ask for a loan of 746 Million Pounds. I dont want to check how much that is in Naira before my head shatters

Please do not be received into thinking this is an investment, Britain gives no country £746 million for nothing. A recent statement by ADC's National Publicity Secretary, Bolaji Abdullahi, explained what the money is for. He said the APC government has tried to pass off the deal as Tinubu’s major achievement, it was in fact an achievement of the UK Government, which, through this deal, has managed to save its steel industry, protect thousands of UK jobs, and get Nigeria to pay for it.



”Although the APC government has tried to hoodwink Nigerians by portraying the agreement to rehabilitate the Tin Can and Apapa Ports in Lagos as a diplomatic success, it is, in reality, a commercial loan arrangement with conditionalities that ensure that a substantial portion of the funds either remains within the United Kingdom or is repatriated back to it.

”Based on information available on the UK Government website, which described the deal as a ‘major vote of confidence in UK manufacturing’, the £746 million agreement will be delivered through UK Export Finance’s (UKEF) Buyer Credit Facility and arranged by Citibank, N.A., London Branch.

“UKEF is the UK Government’s export credit agency. Its Buyer Credit Facility enables foreign buyers to access financing from commercial banks to procure UK goods and services, typically for projects that require significant UK content participation.

”In simple terms, UKEF guarantees a loan obtained by a foreign buyer from a commercial bank, which is then used to pay for UK goods and services, with the bank paying the UK exporter directly on behalf of the buyer.

”Under this agreement, at least £236 million of the £746 million in supplier contracts will be awarded to British companies, while British Steel will supply 120,000 tonnes of steel billets under a £70 million contract, representing its largest UKEF-backed export order, for port rehabilitation projects,” Abdullahi stated.

He said that the ADC was particularly concerned that the Nigerian government has entered into an agreement that left the country at a clear disadvantage, seemingly in exchange for a few hours of pomp and pageantry, and as part of a broader attempt to secure foreign validation, even as millions of Nigerians continue to face poverty, unemployment, and worsening insecurity.



https://www.thisdaylive.com/2026/03/23/adc-tinubus-port-rehab-agreement-a-mugun-deal-loan-is-to-fund-uk-economy/

Whatever crap you spewed there is irrelevant because your opinion is also irrelavant.

However, do you know that the late Queen Elizabeth had banned any Israeli official from ever visiting Buckingham Palace?

Her son, King Charles is said to be continuing the legacy.

The late Queen referred to all Israelis as ''terrorists and swindlers''.

LagosOrigin:
He has nothing to offer Nigeria except borrowing money that will be looted ..

Your frustration will continue until you pass the baton on your death bed to whatever you have spawned on ground because you will never EVER be alive to see that Giringori as President of Nigeria.

Because they bombed the UK embassy in Palestine on their way to independence?

The same Queen Elizabeth a Colonialist that killed millions and looted treasures of countries, is now your moral Standard?

You will still hail Hitler and claim he is a saint, but same Hitler bombed and made this same queen hide in a bunker after he almost bombed UK out of the World map.

Do y6know that Germany and Israel have increased bilateral cooperation and both dont regard the sinking UK?

Benjamin Netanyahu is still alive
Houthi are defeated
Hamas crushed
Hezbollah crushed
Ayatollah 1,2 and 3 crushed
Generals eliminated

No jets was shutdown
No ship from USA fleet was hit

Your propaganda is weak and senseless.

Upgrade abeg...you are still below par.

FSBoperator:
Whatever crap you spewed there is irrelevant because your opinion is also irrelavant.

However, do you know that the late Queen Elizabeth had banned any Israeli official from ever visiting Buckingham Palace?

Her son, King Charles is said to be continuing the legacy.

The late Queen referred to all Israelis as ''terrorists and swindlers''.

See HBP ooo..

FSBoperator:
Your frustration will continue until you pass the baton on your death bed to whatever you have spawned on ground because you will never EVER be alive to see that Giringori as President of Nigeria.

gidgiddy:
The much hyped State visit to the UK has come and gone. Now we have a more clear idea of what he went there to do. Beyond the party in Windsor and the visit to 10 Downing Street, it is clear that Tinubu went to ask for a loan of 746 Million Pounds. I dont want to check how much that is in Naira before my head shatters

Please do not be received into thinking this is an investment, Britain gives no country £746 million for nothing. A recent statement by ADC's National Publicity Secretary, Bolaji Abdullahi, explained what the money is for. He said the APC government has tried to pass off the deal as Tinubu’s major achievement, it was in fact an achievement of the UK Government, which, through this deal, has managed to save its steel industry, protect thousands of UK jobs, and get Nigeria to pay for it.



”Although the APC government has tried to hoodwink Nigerians by portraying the agreement to rehabilitate the Tin Can and Apapa Ports in Lagos as a diplomatic success, it is, in reality, a commercial loan arrangement with conditionalities that ensure that a substantial portion of the funds either remains within the United Kingdom or is repatriated back to it.

”Based on information available on the UK Government website, which described the deal as a ‘major vote of confidence in UK manufacturing’, the £746 million agreement will be delivered through UK Export Finance’s (UKEF) Buyer Credit Facility and arranged by Citibank, N.A., London Branch.

“UKEF is the UK Government’s export credit agency. Its Buyer Credit Facility enables foreign buyers to access financing from commercial banks to procure UK goods and services, typically for projects that require significant UK content participation.

”In simple terms, UKEF guarantees a loan obtained by a foreign buyer from a commercial bank, which is then used to pay for UK goods and services, with the bank paying the UK exporter directly on behalf of the buyer.

”Under this agreement, at least £236 million of the £746 million in supplier contracts will be awarded to British companies, while British Steel will supply 120,000 tonnes of steel billets under a £70 million contract, representing its largest UKEF-backed export order, for port rehabilitation projects,” Abdullahi stated.

He said that the ADC was particularly concerned that the Nigerian government has entered into an agreement that left the country at a clear disadvantage, seemingly in exchange for a few hours of pomp and pageantry, and as part of a broader attempt to secure foreign validation, even as millions of Nigerians continue to face poverty, unemployment, and worsening insecurity.



https://www.thisdaylive.com/2026/03/23/adc-tinubus-port-rehab-agreement-a-mugun-deal-loan-is-to-fund-uk-economy/

You should be more concerned about Biafra

The hatred is deep to the extent they can never see good things in others.

What a life

Parachoko:
You should be more concerned about Biafra

Bro , this Deep hatred of a thing, are they not even worried about the consequences?

They are sounding like over their dead body this government will succeed