Nigeria, UK agree £746m deal to upgrade Tin Can, Apapa ports

UK Prime Minister Keir Starmer on Thursday received President Bola Ahmed Tinubu at Downing Street, as both countries sealed a £70 million steel deal to support the refurbishment of two major ports in Lagos.

According to the BBC, the agreement will see British Steel supply 120,000 tonnes of steel for the upgrade of the Lagos Port Complex and TinCan Island Port Complex, forming part of a wider £746 million redevelopment arrangement backed by the United Kingdom.

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

President Tinubu said discussions with the British Prime Minister would cover trade, economic cooperation, terrorism, and climate change, while both nations are also expected to sign a Memorandum of Understanding to deepen future trade and investment ties.

The UK Export Finance (UKEF) has guaranteed the loans funding the port redevelopment, with a condition that at least 20 per cent of the contracts are sourced from British firms. This is expected to direct no less than £236 million in supplier contracts to UK companies, including £70 million for British Steel, its largest export deal backed by UKEF.

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

Minister of Marine and Blue Economy, Adegboyega Oyetola, said the project would enhance the country’s status as a leading maritime hub in West and Central Africa.

The visit also featured ceremonial engagements, including a state banquet hosted by King Charles III at Windsor Castle on Wednesday, where he praised the enduring relationship between both nations. Special arrangements were made in consideration of Ramadan, including a prayer space and adjustments to the banquet schedule.

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

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