Tinubu’s UK Visit to Seal £746m Deal for Lagos Ports Overhaul

Tinubu’s UK Visit to Seal £746m Deal for Lagos Ports Overhaul
Apapa, Tincan Ports Set for Major Upgrade
Says Deal Will Transform Nigeria’s Maritime Economy

Nigeria is set for a major transformation of its seaport infrastructure following a £746 million financing agreement with the United Kingdom.

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Eko Hot Blog reports that the deal, unveiled by the Minister of Marine and Blue Economy, Adegboyega Oyetola, will fund the comprehensive upgrade of two of the country’s busiest ports; the Lagos Port Complex Apapa and the Tincan Island Port Complex.

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According to a statement by his Special Adviser, Bolaji Akinola, the agreement is backed by UK Export Finance and will be formally signed during President Bola Ahmed Tinubu’s state visit to London.

Both ports currently handle over 70 percent of Nigeria’s imports and exports, making them critical to the country’s economy.

Oyetola described the agreement as a turning point for Nigeria’s maritime sector, noting that it represents the first major overhaul of the facilities since they were established decades ago.

He explained that the project is part of the Federal Government’s broader plan to unlock the potential of Nigeria’s marine and blue economy while restoring efficiency to its port system.

For years, Apapa and Tincan ports have struggled with outdated infrastructure and operational delays. According to the minister, the upgrade will go beyond simple repairs, bringing the ports up to international standards.

Tinubu’s UK Visit to Seal £746m Deal for Lagos Ports Overhaul

The project will introduce modern cargo-handling equipment, expand port capacity, and deploy digital systems to replace manual processes that often slow down operations.

Once completed, the changes are expected to significantly reduce vessel waiting time and speed up cargo clearance, making it easier and cheaper for businesses to move goods in and out of Nigeria.

Oyetola said improved efficiency at the ports will help lower logistics costs, reduce delays, and create a more transparent system for trade.

He added that the transformation will strengthen Nigeria’s position as a key maritime hub in West and Central Africa, attracting more shipping traffic and boosting economic growth.

The minister also noted that the partnership with the United Kingdom reflects a growing economic relationship between both countries, especially in trade and infrastructure development.

The Lagos Port Complex Apapa, established in 1913, remains Nigeria’s oldest and busiest seaport, while the Tincan Island Port Complex, commissioned in 1977, was built to support its operations.

Despite their importance, neither port has seen an upgrade of this scale in nearly 50 years, making this project one of the most significant maritime investments in Nigeria’s history.