Nigeria approves sovereign guarantee for Ibom Deep Seaport; financing terms unclear

President Tinubu's approval enables a sovereign guarantee for Ibom Deep Seaport investors, but the investor identity, terms, and potential taxpayer liabilities remain undisclosed. Questions persist over whether the Federal Executive Council approved the guarantee as legally required, and the approval appears to supersede a 2020 clearance under Buhari, raising governance and fiscal risk concerns.

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