Nigeria’s minister for marine and blue economy has hailed strategic partnerships, saying they are laying the foundation of efficiency, transparency and competitiveness in Nigeria’s port system. The comment came after President Bola Tinubu landed a £746 million deal in which British companies supported by government will help refurbish two key Nigerian ports.
By Blue Africa News
Nigeria’s two major national maritime infrastructure facilities are staring at a promising future, owing to the announcement of a £746 million refurbishment supported by the United Kingdom (UK).
The funds will be directed toward the refurbishment of the Lagos Port Complex (Apapa Quays) and the TinCan Island Port Complex, the agreement coming on the backdrop of positive talks between UK Prime Minister Sir Keir Starmer and President Bola Tinubu in the UK on Thursday, March 19. Tinubu is the first Nigerian leader to visit the UK in 37 years.
President Tinubu in a statement by his spokesperson Bayo Onanuga, described his state visit to the UK as “very thrilling and significant” in strengthening bilateral relations between the two nations.
“We cannot forget the institutional development we have enjoyed over the years. Currently, the entire world is challenged. Nigeria is not immune to what is happening around the world. My reaction is the economy and the welfare of the people and how we should work together to improve the livelihood of our people,” said president Tinubu.
Prime Minister Starmer reaffirmed the United Kingdom’s appreciation of its enduring relationship with Nigeria, particularly the vibrant people-to-people connections that continue to strengthen both societies.
Both countries, he noted, already maintain strong collaboration in areas such as the economy, defence, and security, and said the newly reached agreements on exports and business exchanges reflect a shared determination to deepen cooperation and broaden engagement on global issues.
The two leaders witnessed the signing of an agreement between UK Export Finance, the UK government’s export credit agency (UKEF), the Nigerian Ports Authority (NPA) and the Federal Ministry of Finance.
Under the deal, British Steel will supply 120,000 tonnes of steel billets to construction companies Hitech Nigeria and ITB Nigeria for the port’s infrastructure improvement, amounting to a £70 million contract.
“Hot on the heels of our landmark Steel Strategy, this is a major win for British Steel made possible by UK Export Finance which is testament to the quality of UK-made steel and the booming UK-Nigeria relationship,” said Peter Kyle, UK’s Business and Trade Secretary.
“Through our new Strategy, we’re backing British steelmakers for long-term success at home and abroad, and this contract will reinforce British Steel’s world-class expertise while supporting jobs and growth in Scunthorpe,” he added.
Dr. Adegboyega Oyetola, Nigerian Minister of Marine and Blue Economy noted that the modernisation and upgrading of Nigeria’s ports represents a major step forward for the West African country, and aligns closely with the Federal Government’s commitment to unlocking the full potential of the marine and blue economy.
He hailed strategic partnerships such as the one with the United Kingdom, adding that they are laying the foundation for a new era of efficiency, transparency and competitiveness in Nigeria’s port system.
Modern infrastructure, he said, supported by digitalised and automated processes, will transform the way Nigeria’s ports operate and strengthen the country’s position as a leading maritime hub in West and Central Africa.
“Nigeria’s port operations will be transformative. Turnaround times for vessels and cargo dwell times within the ports are projected to fall sharply as automated processes replace paperwork-heavy procedures and as expanded capacity removes longstanding bottlenecks.”
He concluded by stating that the modernised infrastructure will enable faster clearance of imports and exports, reduce demurrage and logistics costs for businesses, significantly improve the predictability and transparency of cargo movement and generate more revenue for national development.
Oliver Ochieng, Blue Africa News