The governments of United Kingdom and Nigeria have signed a £746 million ($990 million) export finance deal to upgrade key port infrastructure.

The funding will be used to modernise the Lagos Port Complex in Apapa and the Tin Can Island Port, two major facilities handling most of Nigeria’s imports and exports.

Backed by UK Export Finance, the project will introduce modern cargo systems, digital tools, and automation to improve efficiency and reduce delays.

The agreement was announced during President Bola Ahmed Tinubu’s visit to London, where he met with Prime Minister Keir Starmer.

Officials say the deal will also benefit British companies, with contracts worth over £200 million expected to support industries like steel and engineering.

Experts believe the upgrade will strengthen Nigeria’s position as a key maritime hub in West Africa and help boost trade and economic growth.