Blue Economy
Nigeria Seals £746m UK Deal to Overhaul Apapa, Tin Can Ports in Biggest Maritime Upgrade in Half a Century
Nigeria Seals £746m UK Deal to Overhaul Apapa, Tin Can Ports in Biggest Maritime Upgrade in Half a Century
By Okeoghene Onoriobe, News Correspondent | Waterways News, Lagos
Nigeria has secured a landmark £746 million financing agreement with the United Kingdom to completely overhaul the Lagos Port Complex Apapa and the Tin Can Island Port Complex — the most ambitious port modernisation programme the country has seen in nearly 50 years.
Minister of Marine and Blue Economy, Adegboyega Oyetola, announced the development on Tuesday through a statement issued by his Special Adviser, Bolaji Akinola.
The financing, backed by UK Export Finance, will fund comprehensive rehabilitation and upgrades across both Lagos facilities, which together handle over 70 per cent of Nigeria’s import and export traffic.
The agreement is expected to be formally signed during President Bola Ahmed Tinubu’s state visit to London on March 18 and 19, 2026 — a visit that underscores the deepening economic ties between the two nations.
Oyetola described the deal as a turning point for Nigeria’s maritime sector, noting it represents the first large-scale overhaul of the ports since their establishment decades ago. Apapa Port, commissioned in 1913, is the country’s oldest and busiest seaport, while Tin Can Island Port was inaugurated in 1977 to complement its operations.
“For decades, these ports have borne the weight of Nigeria’s international trade without corresponding infrastructure upgrades,” Oyetola said. “What we are embarking upon is not just an upgrade, but a complete transformation aligned with global standards.”
The modernisation programme will introduce advanced cargo-handling equipment, expand port capacity, and deploy integrated digital systems designed to eliminate longstanding operational bottlenecks. Automation and digitalisation are expected to significantly cut vessel turnaround time and cargo dwell time — two of the sector’s most persistent headaches — while reducing reliance on manual, paper-based processes to improve transparency and reliability.
“What we are embarking upon is not just an upgrade, but a complete transformation aligned with global standards.”
Oyetola said the gains would ripple well beyond the port gates, delivering faster cargo clearance, lower demurrage costs for importers and exporters, and a more predictable logistics environment for businesses operating across the country.
“Efficiency at the ports is directly linked to the health of the national economy,” he said. “These reforms will ease trade, lower the cost of doing business, and ultimately stimulate economic growth while boosting government revenue.”
On the regional stage, the minister said the upgraded infrastructure would consolidate Nigeria’s position as a strategic maritime hub for West and Central Africa, attracting more shipping traffic and sharpening the country’s competitive edge in global trade.
He framed the UK partnership as a reflection of shared commitment to sustainable maritime development and long-term economic cooperation, adding: “This project will not only improve logistics efficiency but also deepen investor confidence and support the country’s long-term development objectives.”
The Federal Government views the deal as a cornerstone of its broader marine and blue economy strategy, aimed at unlocking the full economic potential of Nigeria’s vast maritime resources.
Industry stakeholders say successful implementation could mark a transformative shift in port operations, positioning Nigeria to compete more effectively with Africa’s leading maritime hubs.
Waterways News | waterwaysnews.ng