Nigeria Lands £746m UK Deal to Revamp Lagos Seaports

Story: written by Joseph March 18,2026
Nigeria has secured a £746 million financing package from the United Kingdom to overhaul key port facilities in Lagos, marking a major step toward modernising the nation’s maritime infrastructure.

Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed that the agreement will cover upgrades at the Apapa and Tin Can Island ports. The deal is set to be formally signed during a high-level meeting at Windsor Castle, where President Bola Tinubu will be received by King Charles III.

The funding is backed by UK Export Finance, which supports overseas infrastructure projects through loan guarantees. While full details of the financing terms remain undisclosed, officials describe the initiative as a transformative investment in Nigeria’s port system.

The Lagos Port Complex Apapa, established in 1913, remains the country’s oldest and busiest port, handling a significant share of imports and exports. The Tin Can Island Port Complex, commissioned in 1977, complements Apapa, with both facilities accounting for over 70 percent of Nigeria’s cargo traffic.

Despite their strategic importance, the ports have long suffered from outdated infrastructure, forcing larger vessels to divert to neighbouring countries and resulting in revenue losses.

Oyetola said the planned upgrade will go beyond basic rehabilitation, introducing modern systems, automation, and digital processes aimed at boosting efficiency, transparency, and reliability in cargo handling.

He added that the improvements are expected to accelerate cargo clearance, cut logistics and demurrage costs, and create a more predictable trade environment for businesses.

Authorities believe the port transformation will play a critical role in strengthening the economy by easing trade bottlenecks, improving competitiveness, and increasing government revenue.