Massive relief as Tinubu seals £746m deal to transform Lagos Ports, ease traffic

President Bola Ahmed Tinubu has overseen the signing of a £746 million financing agreement in London aimed at modernising Lagos ports and tackling long-standing congestion.

The deal, signed between Nigeria’s Ministry of Finance, led by Wale Edun, and Citi Bank, will focus on upgrading the Apapa Port and Tin Can Island Port.

The agreement is expected to ease traffic bottlenecks, improve operational efficiency, and boost Nigeria’s trade capacity.

President Tinubu witnessed the signing on the sidelines of his two-day state visit to the United Kingdom, where he has held high-level engagements with British officials and business leaders.

The visit also saw the Nigerian leader received with ceremonial honours and hosted at a state banquet by King Charles III.

The £746 million port financing deal is seen as a major step in efforts to reposition Nigeria’s maritime sector and address the chronic gridlock that has plagued Lagos ports for years.