President Bola Ahmed Tinubu has held high-level bilateral talks with United Kingdom Prime Minister Keir Starmer, culminating in a £746 million financing agreement with UK Export Finance to support critical development projects in Nigeria.
The meeting, held at 10 Downing Street in London, focused on strengthening Nigeria–UK relations and expanding economic cooperation, particularly in trade, infrastructure, and sustainable development. President Tinubu described the engagement as “significant and forward-looking,” emphasising the need to deepen economic ties through enhanced trade agreements.
According to the president, Nigeria is currently undergoing far-reaching economic reforms aimed at stabilising and repositioning the economy for long-term growth. He stressed the importance of partnerships in navigating current global economic challenges, noting that such pressures are not unique to Nigeria but are being experienced worldwide.
Tinubu highlighted the need for collaborative efforts to improve the welfare and livelihoods of citizens, stating that both nations must work together to address evolving economic realities. He also drew attention to broader challenges, including terrorism across Africa, linking it to climate change and shifting socio-economic conditions that require coordinated international responses.
A major outcome of the bilateral talks was the signing of a £746 million financing agreement involving UK Export Finance, the Nigerian Ports Authority, and the Federal Ministry of Finance. The deal is targeted at modernising Nigeria’s transport and trade infrastructure, a key component of the government’s economic reform agenda.
Funding from the agreement will be directed towards the rehabilitation of critical maritime assets, including the Lagos Port Complex (Apapa Quays) and the Tin Can Island Port Complex. These upgrades are expected to enhance port efficiency, boost trade capacity, and strengthen Nigeria’s position as a key economic hub in West Africa.
Both leaders expressed optimism about the future of Nigeria–UK relations, with a shared commitment to expanding cooperation across economic, security, and development priorities.
