Nigeria and UK Sign £746M Port Rehabilitation Deal

Nigeria and the United Kingdom have entered into a £746 million memorandum of understanding aimed at rehabilitating the Apapa and Tin Can ports, critical maritime hubs that manage 70% of Nigeria's import and export activities. The Apapa port, established by the British in 1920, faces chronic congestion and outdated cargo clearance processes, while the Tin Can port, commissioned in 1977, is limited in its capacity to handle larger vessels.

The agreement, signed during President Bola Ahmed Tinubu's state visit to Britain, is expected to digitize cargo clearance processes, reduce dwell time, and enhance Nigeria's maritime competitiveness. The rehabilitation project, set to commence in 2026 and last for 48 months, will modernize quay walls and deepen channels to accommodate larger ships.

The UK export finance will facilitate the investment, which is anticipated to create thousands of jobs and generate significant supplier contracts for British firms, thereby benefiting both economies.