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Nigeria, UK Sign £746m Deal to Upgrade Apapa, Tin Can Ports

Nigeria, UK Sign £746m Deal to Upgrade Apapa, Tin Can Ports
**Nigeria and UK Sign £746m Deal to Upgrade Ports Infrastructure** Nigeria and the United Kingdom have signed a landmark £746 million deal to modernise two of Nigeria's busiest maritime hubs, the Apapa and Tin Can Island ports in Lagos. The agreement, signed on behalf of Nigeria by the Minister of Finance and Coordinating Minister of the Economy, is expected to boost trade, create jobs, and deepen bilateral economic ties. The deal marks a significant milestone in the strengthening of trade and economic cooperation between the two nations. President Bola Tinubu met with United Kingdom Prime Minister Sir Keir Starmer at Downing Street, where the two countries agreed on the deal. The Nigerian leader described his state visit to the United Kingdom as "very thrilling and significant" in strengthening bilateral relations between the two nations. According to a statement by the President's spokesman, Bayo Onanuga, discussions between the two leaders covered a range of issues, including trade, the economy, climate change, terrorism, and wider global challenges. President Tinubu noted that Nigeria is currently undergoing strong reforms of its economy and expressed the need for international cooperation to address global challenges. The agreement includes a £236 million contract for British firms, with British Steel set to provide 120,000 tonnes of steel billets for the project. The refurbishment job will be handled by Hitech and ITB. The deal aligns with the drive to unlock the maritime sector, according to Governor Oyetola of Osun State. Prime Minister Starmer described the visit as historic and highlighted the significance of the State Banquet hosted by the King in honour of the Nigerian delegation. He reaffirmed the United Kingdom's appreciation of its enduring relationship with Nigeria and expressed a shared determination to deepen cooperation and broaden engagement on global issues. The agreement is expected to have a significant impact on Nigeria's economy and trade sector. As President Tinubu noted, "Nigeria is currently going through strong reforms of its economy, and we will discuss that further in our bilateral discussions." The deal is seen as a significant step towards strengthening trade ties and expanding mutually beneficial economic cooperation between the two nations.
Source: Original Article • AI-enhanced version

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