UK-Backed £746m Port Upgrade to Transform Lagos Trade Hubs

UK Export Finance has agreed a £746 million package to modernise Nigeria’s two busiest ports. The Lagos Port Complex (Apapa) and Tin Can Island Port Complex will receive advanced cargo-handling systems, digitalisation and automation. The financing, arranged by Citibank and guaranteed by UKEF, aims to cut congestion and speed up operations. The deal was signed during President Tinubu’s UK state visit in March 2026 and marks Nigeria’s largest port modernisation effort in nearly 50 years. British firms stand to gain about £236 million in contracts, including a £70 million award for British Steel. The project will boost Nigeria’s competitiveness as a West African maritime hub and drive economic growth.

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