President Bola Tinubu has called for stronger trade and economic cooperation between Nigeria and the United Kingdom, as both countries agreed on a £746 million deal to refurbish two major ports in Lagos.
The agreement was reached on Thursday during a meeting between President Tinubu and British Prime Minister Keir Starmer at 10 Downing Street, as part of the Nigerian leader’s ongoing state visit to the UK.
Speaking ahead of bilateral talks, Tinubu described the visit — the first by a Nigerian leader in 37 years — as “very thrilling and significant,” noting that both countries must build on their longstanding relationship.
“We cannot forget the institutional development we have enjoyed over the years,” the President said, adding that discussions would focus on trade, the economy, climate change, terrorism, and broader global challenges.
He also highlighted Nigeria’s ongoing economic reforms, stressing the need for collaboration to improve the welfare of citizens.
“My reaction… is the economy and the welfare of the people and how we should work together to improve the livelihood of our people,” Tinubu said.
Prime Minister Starmer described the visit as historic, reaffirming the UK’s commitment to its relationship with Nigeria and pointing to strong cooperation in areas such as the economy, defence, and security. He added that new agreements on trade and business exchanges reflect a shared determination to deepen engagement and expand cooperation on global issues.
The £746 million agreement was later formalised at Lancaster House, where President Tinubu and First Lady Oluremi Tinubu witnessed the signing of the deal for the modernisation of infrastructure at the Apapa and Tin Can Island ports in Lagos.
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, signed on behalf of the Federal Government, while UK Minister for Small Business and Economic Transformation, Blair McDougall, signed for the British government.
Edun said the agreement aligns with Nigeria’s priorities in infrastructure, energy, and industrial development, noting that stronger bilateral partnerships are key to attracting investment, creating jobs, and reducing poverty.
He added that the deal reflects growing confidence and mutual trust between both countries, as well as a shared commitment to delivering tangible economic outcomes.