Follow Us on Google
Chairman, Alliance for Economic Research and Ethics LTD/GTE and former NACCIMA President, Dele Oye, has criticised President Bola Tinubu’s recent visit to the United Kingdom, saying the trip, though generating $1.5 billion in deals, failed to deliver meaningful benefits for Nigerian businesses.
Oye described the visit as “a squandered opportunity for comprehensive Nigerian business advancement,” noting that crucial areas like the $21 billion in annual UK remittances and SME market access were largely ignored. While the visit produced headline-grabbing agreements—including a £746 million UK Export Finance package for port modernization and investment in dairy infrastructure, Oye argued these primarily favored UK contractors and did not directly support Nigerian exporters or creative industries.
“On paper, the visit looks impressive. King Charles celebrated Nigerian culture, fintech firms expanded into the UK and banks like Zenith opened branches in Manchester. But when the diplomatic spotlight fades, it’s clear that the government’s presence added ceremony, not commercial leverage”, he said.
Oye also criticised the lack of federal government engagement at business forums.
Other News
“Key ministers were largely absent while state governors were more visible. “This signals poor coordination and a missed chance to actively promote Nigerian trade interests”, he noted.
The economic expert stressed that private sector initiatives, rather than government diplomacy, drove most of the tangible gains, including fintech expansions and educational partnerships.
He called for future state visits to focus on actionable strategies that give SMEs real access to foreign markets and investment pipelines.
“The true measure of success will be in the next six months: whether Nigerian SMEs gain UK market access, creative exports increase, and agricultural products reach British shelves. Otherwise, this historic visit risks being remembered as an expensive photo opportunity,” Oye warned.
