Nigeria has secured a £746 million financing agreement with the United Kingdom to modernise critical seaport infrastructure at the Apapa and Tin Can Island Port complexes in Lagos, in what officials describe as the most ambitious port upgrade undertaken in nearly five decades.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed that the funding arrangement, backed by UK Export Finance (UKEF), will support the comprehensive rehabilitation and expansion of the two strategic maritime gateways that collectively handle more than 70 per cent of the nation’s imports and exports.
According to a statement issued by the minister’s Special Adviser, Bolaji Akinola, the agreement will be formally signed during President Bola Tinubu’s ongoing state visit to London.
Oyetola described the financing package as a transformative milestone for Nigeria’s maritime sector, noting that the scale of the project represents the first comprehensive modernisation of the facilities since their establishment decades ago.
The Lagos Port Complex in Apapa, originally established in 1913, remains Nigeria’s oldest and busiest seaport, serving as the primary gateway for a large share of the country’s international trade. The Tin Can Island Port Complex was subsequently developed to complement Apapa and was officially commissioned on October 14, 1977.
Despite their strategic role in Nigeria’s trade ecosystem, both facilities have long operated with ageing infrastructure and limited technological upgrades.
Oyetola said the planned modernisation programme will introduce advanced cargo-handling equipment, expand operational capacity and deploy integrated digital systems aimed at eliminating long-standing operational bottlenecks within the ports.
“For decades, Apapa Port and Tin Can Island Port have borne the weight of our national trade, yet their infrastructure has not kept pace with the scale and complexity of modern global shipping,” the minister said.
“What we are set to do is not merely an upgrade, but a comprehensive transformation that will bring our ports into alignment with international best practice.”
He noted that the deployment of modern infrastructure supported by automated and digitalised processes would significantly improve efficiency, enhance transparency and strengthen operational reliability across Nigeria’s maritime logistics chain.
The minister added that the project aligns with the Federal Government’s broader strategy to unlock the economic potential of the marine and blue economy while restoring competitiveness to the nation’s port system.
According to him, the modernisation initiative is expected to significantly reduce vessel turnaround times while shortening cargo dwell periods within the ports as automated processes replace outdated paper-based procedures and manual documentation systems.
Oyetola emphasised that once completed, the reforms will fundamentally reshape the operational landscape of Nigeria’s maritime gateways, positioning the country to emerge as a strategic shipping and logistics hub for West and Central Africa.
