Nigeria Secures £746m UK Financing to Modernise Apapa, Tin Can Ports
Nigeria has secured a £746 million financing agreement with the United Kingdom to undertake a major upgrade of its seaport infrastructure, marking what officials describe as the most significant overhaul in five decades.
The deal, backed by UK Export Finance, will focus on the modernisation of Apapa Port and Tin Can Island Port, which together account for more than 70 per cent of the country’s import and export activities.
The agreement is expected to be formally signed during the state visit of Bola Ahmed Tinubu to London scheduled for March 18–19, signalling a renewed phase of economic cooperation between Nigeria and the United Kingdom.
According to the Minister of Marine and Blue Economy, Adegboyega Oyetola, the initiative is aimed at transforming the nation’s port infrastructure to meet modern shipping demands. He noted that for decades, Nigeria’s ports have played a central role in trade despite facing challenges related to outdated facilities.
The planned upgrade will involve the deployment of advanced cargo-handling systems, as well as increased digitalisation and automation, with the objective of reducing congestion, improving turnaround time, and enhancing overall operational efficiency.
Oyetola said the reforms are expected to make trade faster, more cost-effective, and predictable, thereby supporting economic growth and strengthening Nigeria’s position as a key maritime hub in West and Central Africa.
He added that the government’s long-term vision is to develop modern, competitive, and globally connected ports capable of driving trade, attracting investment, and supporting the country’s broader economic ambitions.
