Nigerian Govt Signs £746m Deal To Refurbish Two Major Ports.

The Federal Government of Nigeria has signed a £746 million financing agreement with the United Kingdom, backed by UK Export Finance (UKEF), to modernise two of the country’s busiest seaports, the Lagos Port Complex (Apapa) and the Tin Can Island Port Complex.

The deal, announced during President Bola Tinubu’s state visit to the UK, marks the most ambitious upgrade of Nigeria’s port infrastructure in nearly 50 years, targeting decades‑old congestion, underinvestment, and operational inefficiencies.

According to the Ministry of Marine and Blue Economy, the investment will fund comprehensive redevelopment, including structural rehabilitation, modern cargo‑handling systems, and improved logistics capacity , a move expected to boost trade efficiency and strengthen Nigeria’s maritime competitiveness.