Nigeria, UK seal £746m loan deal to revamp Tin Can, Apapa ports
Nigeria and the United Kingdom have sealed a £746 million export finance deal to support the redevelopment of two major ports in Lagos.
The agreement was announced during a meeting between Prime Minister Keir Starmer and President Bola Tinubu at Downing Street in London on Thursday, according to a BBC report.
Under the deal, UK Export Finance (UKEF) will guarantee loans for the refurbishment of the Apapa and Tin Can Island port complexes.
The financing arrangement will, reportedly, be coordinated by Citibank.