The UK and Nigeria have agreed a landmark £746 million ($902m) financing deal to redevelop two of Nigeria’s major trading ports: the Lagos Port Complex (Apapa Quays) and TinCan Island Port Complex.
The agreement, coordinated by UK Export Finance (UKEF) and arranged by Citibank London, supports thousands of UK jobs and invests hundreds of millions into the British economy.
Under the deal:
• British Steel secures a £70 million contract to supply 120,000 tonnes of steel billets to Hitech Nigeria and ITB Nigeria, marking its largest UKEF-backed export order.
• At least £236 million of supplier contracts will go to UK companies, boosting domestic manufacturing.
• A Memorandum of Understanding (MOU) sets a framework for future UK–Nigeria trade, infrastructure, and sustainable growth projects.
• Leaders discussed security, migration, and humanitarian support for Sudan during bilateral talks.
The deal reflects the UK’s ongoing commitment to strategic partnerships and long-term investment in West Africa.
ℹ️ GOV. UK
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