LAGOS, Mar 18 – Nigeria has secured a 746 million Euro financing agreement with the United Kingdom to overhaul key seaport infrastructure, targeting upgrades at the Lagos Port Complex in Apapa and the Tin Can Island Port.
The deal, backed by UK Export Finance, will fund a comprehensive modernisation of the two facilities, which together handle more than 70% of the country’s imports and exports. The agreement is scheduled to be formally signed during President Bola Tinubu’s state visit to London on March 18 and 19, 2026.
According to the Ministry of Marine and Blue Economy, the project marks the first large-scale upgrade of the ports since their establishment. The Apapa port, commissioned in 1913, remains Nigeria’s oldest and busiest seaport, while Tin Can Island Port, opened in 1977, was developed to support growing trade volumes.
The modernisation programme will introduce new cargo-handling equipment, expand port capacity and deploy digital systems aimed at improving operations.
Authorities say the upgrades are expected to reduce vessel turnaround time and shorten cargo dwell periods, addressing long-standing delays at both ports.
The improvements are also expected to streamline cargo clearance processes and reduce logistics costs for businesses operating through Nigeria’s busiest maritime gateways.
Officials said the financing arrangement reflects ongoing economic cooperation between Nigeria and the United Kingdom. Bilateral trade between both countries is estimated at about £8.1 billion annually.
The two ports have faced persistent congestion and operational bottlenecks over the years, driven by ageing infrastructure and rising trade volumes.
