Nigeria signs £746m UK deal to upgrade major seaports
Adegboyega Oyetola, Minister of Marine and Blue Economy, has announced a £746m financing agreement with the United Kingdom to modernise Nigeria’s key seaports. The deal, supported by UK Export Finance, will overhaul the Lagos Port Complex Apapa and Tincan Island Port Complex in Lagos. The agreement will be formally signed during the high-profile state visit of President Bola Tinubu to London on March 18 and 19, 2026. The project aims to transform Nigeria’s maritime infrastructure and boost the nation’s economic competitiveness.
TLDR
- Adegboyega Oyetola unveiled a £746m UK-backed financing deal to modernise Apapa and Tincan Island ports.
- The agreement will be officially signed during Bola Tinubu’s state visit to London on March 18 and 19, 2026.
- The project marks the first comprehensive overhaul of these ports since their establishment.
- Modernisation will introduce advanced cargo-handling, expanded capacity, and digital systems to improve efficiency.
- The initiative is expected to strengthen Nigeria’s position as a major maritime hub in West and Central Africa.
