Tinubu, Starmer Meet as UK Backs £746m Lagos Port Upgrade Deal

Tinubu, Starmer Meet as UK Backs £746m Lagos Port Upgrade Deal

President Bola Ahmed Tinubu on Thursday held high-level talks with UK Prime Minister Keir Starmer as both countries move to deepen Nigeria–UK bilateral relations and finalise a £746 million port infrastructure deal.

According to a statement by presidential spokesman Bayo Onanuga, the meeting is expected to culminate in the signing of multiple Memoranda of Understanding (MoUs) covering trade, investment, defence cooperation, and cultural exchange.

The engagement underscores Nigeria’s push to attract foreign direct investment (FDI), strengthen economic diplomacy, and accelerate the modernisation of critical infrastructure.

At the centre of Tinubu’s UK visit is a £746 million financing agreement involving UK Export Finance, the Nigerian Ports Authority, and the Federal Ministry of Finance.

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The deal will fund the refurbishment and upgrade of two of Nigeria’s busiest seaports:

• Lagos Port Complex (Apapa Quays)

• Tin Can Island Port Complex

Officials say the project will focus on rehabilitating ageing port infrastructure, improving cargo handling efficiency, and reducing congestion — long-standing challenges that have hindered Nigeria’s maritime sector.

The upgrades are also expected to enhance trade facilitation, revenue generation, and logistics efficiency, positioning Nigeria as a stronger maritime hub in West Africa.

Beyond infrastructure, discussions between Tinubu and Starmer also covered security cooperation, regional stability, and economic partnerships, reflecting a broader strategic alignment between both countries.

Analysts note that the involvement of UK Export Finance signals strong UK government backing for the project, which could open the door for more British investments in Nigeria’s transport, energy, and infrastructure sectors.

The agreement is considered one of the largest recent external financing deals in Nigeria’s port sector, with potential to create jobs, boost exports, and improve the ease of doing business.

Tinubu, Starmer Meet as UK Backs £746m Lagos Port Upgrade Deal