Nigeria Needs Clear Strategy for UK Visit Benefits, Says Expert

Associate Professor of Strategy, Corporate Governance, and Risk Management, Franklin Ngwu, has stressed the imperative for Nigeria to distinctly define its national interests to harness substantial benefits from the President and First Lady's recent visit to the United Kingdom.

Speaking during an interview on ARISE News on Thursday, Ngwu noted that while the visit represented a significant diplomatic achievement, being the first in nearly four decades, the country risks forfeiting genuine socioeconomic gains without a well-defined strategic plan.

"From my perspective, I'm uncertain if the government and the Nigerian people have truly deliberated on and established our national interests and what we aim to achieve," Ngwu stated. "While public discourse often focuses on the reception of the President and the historical significance of the visit, we haven't sufficiently emphasised what Nigeria offers in terms of productivity, potential, and contributions to the global economy. This is my concern – that we are not clearly defining our proposition."

He voiced concerns regarding Nigeria's enduring reliance on crude oil exports, pointing out that the nation's primary exports to the UK have remained consistent over the past fifty years.

"Fifty years ago, our main exports to the UK were crude oil. Fifty years later, in 2026, what are we exporting? Primarily still crude oil. So, the critical question is: what has changed, and what have we done differently?" he queried.

Ngwu acknowledged that the visit resulted in specific agreements, such as a £746 million deal for port modernisation where British Steel will supply 120,000 tonnes of steel to Lagos ports. However, he argued that the emphasis should shift from ceremonial aspects to Nigeria's value proposition and economic productivity.

"It's positive that our ports are being modernised. However, what should equally concern us is this: let me draw a comparison. The UK, with a population of about 70 million, possesses over 120 ports, with ten handling 70% of its trade, supporting a GDP close to $5 trillion. Nigeria, with a population of 230 million, has a GDP of approximately $285 billion and perhaps only two or three effectively functioning seaports. In 2026, we are still celebrating the UK's assistance in modernising our two seaports, Tin Can and Apapa, in Lagos. They are financing this with about £746 million, which is commendable. But upon closer examination and considering public commentary, the CEOs of British Steel and other UK companies are celebrating securing a contract to supply pellets for this port modernisation. This seems to be a significant achievement for them," Ngwu elaborated.

He further highlighted Nigeria's trade deficit with the UK, identifying the lack of export diversification as a fundamental structural issue.

"When you look at Nigeria and the UK, Nigeria exported approximately $2.7 billion worth of goods to the UK, while importing over $5.7 billion. This signifies a trade deficit. The reason it's a concern is our insufficient focus on productivity and on what we contribute globally and specifically to the UK and the Commonwealth of Nations," he explained.

Ngwu suggested that sectors such as agriculture, information technology, logistics, manufacturing, and education could be pivotal in expanding Nigeria's economic contributions internationally.

"Even if we decide to focus on agricultural products like bananas, potatoes, or coconuts and commit seriously to supplying them, it's still concerning that after 50 years, our export focus remains solely on crude oil. That is why I maintain that we need greater clarity and seriousness regarding our offerings," he asserted.

He added that addressing export standards and ensuring supply chain reliability would empower Nigeria to capture larger market shares in the UK and other global markets.

"During our research, we inquired with UK supermarkets about why they weren't sourcing more from Nigeria. They cited two primary reasons: firstly, the absence of an international standard packaging centre in Nigeria that meets European or UK export requirements. Secondly, they expressed uncertainty about the consistency of supply for products like coconuts, bananas, potatoes, or any other agricultural produce," Ngwu concluded.