Nigeria Secures £746M UK Investment for Port Modernization

The Federal Government of Nigeria has successfully secured a £746 million investment from the United Kingdom, aimed at overhauling the Lagos port complex, specifically the Apapa and Tin Island Port Complexes, which collectively handle 70% of Nigeria's import and export activities. This landmark deal, confirmed by Dr. Bolaji Akinola, Special Adviser to the Minister of Marine and Blue Economy, is expected to modernize the country's maritime infrastructure significantly.

The project will involve the installation of modern cargo handling equipment, construction of new berths, and dredging to accommodate larger vessels, which will reduce vessel turnaround and cargo dwell times, making the ports more efficient and competitive. The investment is anticipated to create thousands of jobs during the construction phase and position Nigeria's ports as attractive destinations for international shipping lines.

The formal signing of this financial agreement is scheduled to occur during a high-profile state visit by President Bola Ahmed Tinubu to London on March 18-19, 2026.