PHOTO: President Bola Tinubu and UK Prime Minister Keir Starmer at the Prime Minister’s office in Downing Street during a bilateral meeting on Thursday as part of President Tinubu’s State Visit to United Kingdom
By Ayo Ayodele
-President Bola Tinubu witnessed the signing of £746 million financing agreement between Nigeria’s Ministry of Finance, led by Wale Edun and Parliamentary Under-Secretary of State and UK Minister of Small Business and Economic Transformation, Blair McDougall and Citi Bank to modernise Apapa and Tin Can Island ports in Lagos at Lancaster building, London on Thursday
President Bola Ahmed Tinubu on Thursday called for the strengthening of trade ties and economic cooperation between Nigeria and the United Kingdom, as both countries sealed a £746 million agreement to refurbish two major ports in Lagos.
PHOTO: Principal Private Secretary to the President, Hakeem Muri-Okunola, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, President Bola Tinubu, Minister of Industry, Trade and Investment, Jumoke Oduwole and National Security Adviser, Nuhu Ribadu during a bilateral meeting with United Kingdom Prime Minister, Keir Starmer at the Prime Minister’s Office at Downing Street, London
Tinubu made the remarks during a high-level meeting with British Prime Minister Keir Starmer at 10 Downing Street, where both leaders reaffirmed their commitment to deepening bilateral relations and expanding areas of mutual benefit.
The President described his ongoing state visit to the United Kingdom—the first by a Nigerian leader in 37 years—as “very thrilling and significant,” noting that it marks a renewed phase in diplomatic and economic engagement between the two nations.
“We cannot forget the institutional development we have enjoyed over the years,” Tinubu said ahead of bilateral talks, underscoring the historical ties that have shaped relations between Nigeria and the UK.
He explained that discussions with the British government would extend beyond trade to include critical global and domestic issues such as the economy, climate change, terrorism, and other emerging challenges confronting nations worldwide.
“Nigeria is currently going through strong reforms of its economy, and we will discuss that further in our bilateral discussions,” the President stated.
Highlighting the global economic climate, Tinubu noted that no country is immune to prevailing challenges, stressing the need for collaborative solutions.
“Currently, the entire world is challenged. Nigeria is not immune to what is happening around the world. I have seen your reactions on television on certain developments,” he said.
“My reaction, as you rightly said, is the economy and the welfare of the people and how we should work together to improve the livelihood of our people,” Tinubu added, emphasizing his administration’s focus on economic recovery and social well-being.
In his response, Prime Minister Starmer described the visit as historic and symbolic of the enduring relationship between both countries. He highlighted the significance of the State Banquet hosted by King Charles III in honour of the Nigerian delegation, noting that it reflects the importance the UK places on its ties with Nigeria.
Starmer reaffirmed Britain’s appreciation of its longstanding relationship with Nigeria, particularly the strong people-to-people connections that continue to bind both nations socially, culturally, and economically.
He noted that Nigeria and the United Kingdom already maintain robust collaboration in key sectors, including the economy, defence, and security, adding that the newly reached agreements on exports and business exchanges demonstrate a shared commitment to deepen cooperation.
According to him, both countries are also determined to broaden their engagement on global issues, working together to address common challenges and unlock new opportunities.
Later at Lancaster House, President Tinubu, alongside First Lady Oluremi Tinubu, witnessed the formal signing of the £746 million agreement for the modernisation of infrastructure at the Apapa and Tin Can Island ports in Lagos.
The agreement was signed on behalf of Nigeria by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while Blair McDougall signed on behalf of the British government.
Speaking after the signing, Edun explained that the agreement aligns with Nigeria’s development priorities, particularly in infrastructure, energy, and industrial growth.
He noted that the Federal Government’s increasing emphasis on bilateral partnerships is aimed at attracting the level of investment required to stimulate economic activity, generate employment, and reduce poverty across the country.
Edun further stated that the agreement reflects growing confidence and mutual trust between Nigeria and the United Kingdom, as well as a shared commitment to delivering measurable economic outcomes for both nations.
The £746 million port modernisation project is expected to significantly enhance operational efficiency at the Apapa and Tin Can Island ports—two of Nigeria’s busiest maritime gateways—thereby boosting trade, improving logistics, and strengthening Nigeria’s position in regional and global commerce.
The development also aligns with the Tinubu administration’s Renewed Hope Agenda, which prioritises infrastructure development and economic revitalisation as key drivers of national growth.