The Federal Government of Nigeria and the United Kingdom have signed a landmark £746 million ($902 million) agreement to redevelop two major ports in Lagos—Lagos Port Complex (Apapa) and Tin Can Island Port. The deal, backed by UK Export Finance and coordinated by Citibank, aims to modernise critical maritime infrastructure and boost trade efficiency.
According to the agreement involving the Nigerian Ports Authority and the Federal Ministry of Finance, the project will enhance port capacity, reduce cargo delays, and introduce automated systems to replace manual processes. Authorities say the upgrade will significantly cut vessel turnaround time, lower logistics costs, and improve transparency in cargo handling.
The deal is also expected to benefit British businesses, with at least £236 million in contracts earmarked for UK firms. British Steel will supply 120,000 tonnes of steel billets in a £70 million contract—its largest UKEF-backed export order—supporting construction firms handling the project in Nigeria.
Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, said the project aligns with efforts to unlock the country’s marine economy and position Nigeria as a leading maritime hub in West and Central Africa. UK officials also described the agreement as a boost to bilateral trade and a reflection of growing economic ties between both countries.
Additionally, both nations signed a Memorandum of Understanding to strengthen long-term collaboration in trade and infrastructure. Officials say the agreement signals Nigeria’s readiness for investment and is expected to enhance investor confidence while expanding UK participation in future projects across the region.
