Tinubu Seals £746m UK Port Deal, Pushes Trade Boost

President Bola Ahmed Tinubu on Thursday called for deeper trade and economic cooperation between Nigeria and the United Kingdom as both nations signed a £746 million agreement to refurbish two major ports in Lagos.

The deal, reached during Tinubu’s meeting with British Prime Minister Keir Starmer at Downing Street, will focus on the modernisation of Apapa and Tin Can Island ports, key gateways for Nigeria’s maritime trade.

Describing his state visit as historic and significant, Tinubu said the longstanding relationship between both countries must now be strengthened through increased trade, investment, and broader economic collaboration.

He noted that Nigeria is undergoing major economic reforms and is seeking strategic partnerships to improve livelihoods, especially amid global economic uncertainties.

Talks between both leaders covered critical areas including trade, climate change, security, terrorism, and wider global challenges.

Starmer, in his remarks, described the visit as historic and reaffirmed the United Kingdom’s commitment to strengthening ties with Nigeria, highlighting strong cooperation in defence, security, and economic development.

At Lancaster House, the agreement was formally signed by Nigeria’s Minister of Finance, Wale Edun, and UK Minister for Small Business and Economic Transformation, Blair McDougall, in the presence of President Tinubu and First Lady Oluremi Tinubu.

Edun said the deal aligns with Nigeria’s priorities on infrastructure development, energy, and industrial growth, adding that stronger bilateral partnerships would help attract investment, create jobs, and reduce poverty.

He also noted that the agreement reflects growing confidence and mutual trust between both countries, with a shared commitment to delivering tangible economic benefits.