March 19, 2026

Nigeria and the United Kingdom have signed a major £746 million agreement to upgrade key port infrastructure in Lagos, marking a significant boost to bilateral trade and maritime development.

The deal was finalised on Thursday during a high-level meeting between President Bola Ahmed Tinubu and UK Prime Minister Keir Starmer at Downing Street.

As part of the agreement, British Steel will supply 120,000 tonnes of steel for the refurbishment of the Lagos Port Complex (Apapa) and Tin Can Island Port. The supply contract, valued at £70 million, forms a key component of the broader redevelopment project backed by the UK government.

Starmer described Tinubu’s visit as “historic,” noting it is the first official state visit by a West African leader to the UK in 37 years.

Boost for Trade and Infrastructure

The port upgrade is expected to significantly enhance Nigeria’s maritime capacity, easing congestion and improving efficiency at two of the country’s busiest gateways for international trade.

Funding for the project is being supported by UK Export Finance (UKEF), which has guaranteed the loans tied to the deal. Under the arrangement, at least 20 per cent of the contracts will go to British firms—amounting to no less than £236 million in supply opportunities.

UK Trade Secretary Peter Kyle said the agreement would boost British Steel’s global competitiveness while supporting jobs and economic growth in the UK.

Strengthening Nigeria’s Maritime Position

Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, said the project would reinforce the country’s ambition to become a leading maritime hub in West and Central Africa.

Beyond infrastructure, both countries are also expected to sign a Memorandum of Understanding aimed at deepening trade, investment, and broader economic cooperation. Discussions between the two leaders also covered security, counter-terrorism and climate change.

Diplomatic Highlights

Tinubu’s visit included a state banquet hosted by King Charles III at Windsor Castle, where the monarch praised the long-standing ties between Nigeria and the UK.

Special arrangements were made in recognition of Ramadan, including designated prayer spaces and adjustments to the event schedule.

Meanwhile, First Lady Oluremi Tinubu visited Lambeth Palace, the official London residence of the Archbishop of Canterbury.

The landmark agreement signals a deepening of economic ties between both nations, with expectations that the port upgrades will unlock trade opportunities and drive long-term growth in Nigeria’s maritime sector.