Nigeria Secures £746m UK Funding to Upgrade Apapa, Tin Can Ports

Nigeria has secured a £746 million financing agreement with the United Kingdom to modernise the Lagos Port Complex, Apapa, and Tin Can Island Port, in a move aimed at boosting efficiency and strengthening the country’s maritime sector.

The deal, unveiled by the Minister of Marine and Blue Economy, Adegboyega Oyetola, is backed by UK Export Finance and is expected to fund a comprehensive overhaul of the two major seaports, which handle over 70 per cent of Nigeria’s imports and exports.

According to the minister, the agreement represents a significant milestone in Nigeria’s efforts to reposition its port system for global competitiveness and operational efficiency.

The modernisation project will introduce advanced cargo-handling equipment, expanded capacity and digitalised systems aimed at eliminating long-standing bottlenecks, reducing cargo dwell time and improving vessel turnaround.

Oyetola noted that the initiative forms a core part of the Federal Government’s strategy to unlock the potential of the marine and blue economy, adding that modern infrastructure will enhance transparency, reduce logistics costs and improve trade facilitation.

The agreement is scheduled to be formally signed during President Bola Tinubu’s state visit to London, underscoring deepening economic ties between Nigeria and the United Kingdom.

Officials said the upgrade will mark the first comprehensive modernisation of the ports in decades, positioning Nigeria as a stronger maritime hub for West and Central Africa.

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