Nigeria and the UK Strike £746m Accord to Modernize Key Maritime Hubs at Tin Can and Apapa

Britain's Prime Minister Keir Starmer and Nigeria's President Bola Tinubu engaged in discussions during a meeting at 10 Downing Street in central London on March 19, 2026, as part of the Nigerian president's two-day state visit to the United Kingdom.

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A significant £70 million steel deal was sealed between the two countries, with British Steel set to supply 120,000 tonnes of steel for the refurbishment of the Lagos Port Complex and TinCan Island Port Complex in Lagos.

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This agreement forms part of a larger £746 million redevelopment arrangement, backed by the United Kingdom, and will support the upgrade of two major ports in Lagos, according to the terms of the deal.

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Prime Minister Keir Starmer characterized President Tinubu's visit as "historic," noting that it marks the first state visit by a West African leader to the UK in 37 years, a significant milestone in the relationship between the two nations.

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President Tinubu outlined the discussion topics with Prime Minister Starmer, which will include trade, economic cooperation, terrorism, and climate change, as well as a Memorandum of Understanding to deepen future trade and investment ties between the two countries.

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The UK Export Finance has guaranteed the loans funding the port redevelopment, with the condition that at least 20 per cent of the contracts must be sourced from British firms, directing a minimum of £236 million in supplier contracts to UK companies.

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This guarantee is expected to result in £70 million for British Steel, its largest export deal backed by the UK Export Finance, and will support jobs and economic growth in Scunthorpe, according to the terms of the agreement.

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UK Trade Secretary Peter Kyle stated that the agreement will strengthen British Steel's global standing, while Minister of Marine and Blue Economy, Adegboyega Oyetola, noted that the project will enhance Nigeria's status as a leading maritime hub in West and Central Africa.

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The visit also included ceremonial engagements, such as a state banquet hosted by King Charles III at Windsor Castle on Wednesday, where he praised the enduring relationship between the two nations, and special arrangements were made in consideration of Ramadan.

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First Lady Oluremi Tinubu visited Lambeth Palace, the London residence of the Archbishop of Canterbury, as part of the ceremonial engagements during the state visit.