Bola Tinubu on Thursday called for stronger economic ties between Nigeria and the United Kingdom as both nations signed a £746 million agreement to refurbish two of Nigeria’s busiest seaports in Lagos.
The deal, which targets the modernization of the Apapa and Tin Can Island ports, was a key outcome of Tinubu’s meeting with British Prime Minister Keir Starmer at 10 Downing Street in London. It signals a renewed effort to translate longstanding diplomatic relations into tangible economic gains.
Tinubu described the engagement as a significant step toward deepening bilateral cooperation, emphasizing the need to build on shared history to unlock greater trade and investment opportunities.
“We cannot forget the institutional development we have enjoyed over the years,” he said ahead of bilateral talks.
He added that discussions with the British government would cover trade, economic reforms, climate change, terrorism and other global challenges, reflecting the evolving scope of relations between the two countries.
“Nigeria is currently going through strong reforms of its economy, and we will discuss that further in our bilateral discussions,” Tinubu said.
Placing Nigeria’s economic challenges in a global context, the president noted that the country is not alone in facing economic pressures.
“Currently, the entire world is challenged. Nigeria is not immune to what is happening around the world,” he said, adding that improving the welfare of citizens remains a priority.
Starmer described the visit as historic and highlighted its symbolic and strategic importance, including a state banquet hosted by King Charles III in honor of the Nigerian delegation.
He reaffirmed the United Kingdom’s commitment to its relationship with Nigeria, citing strong people-to-people ties and ongoing collaboration in key sectors such as the economy, defense and security.
According to Starmer, new agreements on exports and business exchanges reflect a shared determination to expand cooperation and address global challenges jointly.
The agreement was formally signed at Lancaster House, where Tinubu and Nigeria’s first lady witnessed the ceremony. Nigeria’s Minister of Finance, Wale Edun, signed on behalf of the Nigerian government, while U.K. Minister for Small Business and Economic Transformation Blair McDougall signed for Britain.
Edun said the deal aligns with Nigeria’s strategic priorities in infrastructure, energy and industrial development, noting that improved port capacity is critical to boosting trade efficiency and economic productivity.
He added that stronger bilateral partnerships are essential to attracting investment, creating jobs and reducing poverty.
The port modernization project is expected to enhance Nigeria’s trade competitiveness, ease congestion at key maritime hubs and support its ambition to become a leading economic center in West Africa.
