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Tinubu, UK PM sign £747m deal to refurbish two Nigerian ports

 

By Cross Udo, Abuja

President Bola Tinubu on Thursday met with the United Kingdom Prime Minister, Sir Keir Starmer, at Downing Street, where the two countries agreed on a deal to refurbish two major ports in Lagos, worth £746m.

This came as President Tinubu has said Nigeria and the United Kingdom must build on their longstanding relationship by strengthening trade ties and expanding mutually beneficial economic cooperation.

The President described his state visit to the United Kingdom, the first by a Nigerian leader in 37 years, as “very thrilling and significant” in strengthening bilateral relations between the two nations.

“We cannot forget the institutional development we have enjoyed over the years,” the Nigerian leader said at Downing Street ahead of bilateral talks.

He noted that discussions would cover trade, the economy, climate change, terrorism, and wider global challenges.

“Nigeria is currently going through strong reforms of its economy, and we will discuss that further in our bilateral discussions.

“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.

“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,” he said.

Prime Minister Starmer, in his remarks, 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, particularly the vibrant people-to-people connections that continue to strengthen both societies.

He noted that both countries already maintain strong collaboration in areas such as the economy, defence, and security, and said the newly reached agreements on exports and business exchanges reflect a shared determination to deepen cooperation and broaden engagement on global issues.

Later, at Lancaster House, President Bola Tinubu, together with his wife, Oluremi Tinubu, witnessed the £746m agreement for the modernisation of the 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 and the Parliamentary Under-Secretary of State and UK Minister for Small Business and Economic Transformation, Blair McDougall MP, on behalf of the British government.

Edun explained that the agreements are consistent with Nigeria’s priority on infrastructure, energy, and industrial development.

He noted that the increasing emphasis on bilateral partnerships would help attract the scale of investment required to boost economic activity, create jobs, and reduce poverty, in line with the administration’s Renewed Hope Agenda.

He said the agreements underscore growing confidence and mutual trust between both countries, as well as a shared commitment to deliver tangible economic outcomes for Nigeria and the United Kingdom.

*Tinubu pushes for beefed-up trade, anti-terror pact amid global crisis

Meanwhile, President Tinubu on Thursday demanded a rock-solid economic and security alliance between Nigeria and the United Kingdom (UK, pushing for expanded trade and unified action against mounting global threats.

He also declared that Nigeria has emerged from a period of economic hardship, expressing optimism about the country’s recovery and prospects.

In a high-stakes meeting with Prime Minister Keir Starmer at 10 Downing Street, Tinubu called for supercharging existing trade deals and forging broader economic links that benefit both nations.

“We need to nurture the trade agreement and stimulate more economic relationships that will build our two nations,” Tinubu declared.

He spotlighted Nigeria’s bold economic reforms to steady the ship amid global turbulence, insisting the challenges hit everyone hard.

“Nigeria is undergoing a very strong reform of the economy, and beyond the volatility, what we face is no small challenge,” he said. “The entire world is challenged—Nigeria isn’t immune, just as Britain isn’t.”

Tinubu said he prioritised citizens’ welfare, urging joint moves to tame instability and boost livelihoods.

“My concern is the economy and people’s welfare, and how we work together to improve lives while mitigating volatility,” he added.

He flagged Africa’s escalating security nightmares—Sahel terrorism, climate-fueled conflicts, and socio-economic strains—as threats Nigeria, West Africa’s giant, must confront head-on.

“We’re challenged by terrorism from the Sahel, plus conflicts from climate change and other pressures,” Tinubu noted.

He expressed optimism that the concrete bilateral talks would fast-track UK-Nigeria friendship.

Starmer hailed the visit as historic—the UK’s first inward state visit in 37 years—and celebrated deep-rooted ties via shared history and vibrant people-to-people links.

“Our long, shared history is obvious and valued, as is the people-to-people contact that enriches us,” Starmer said.

He praised ongoing UK-Nigeria cooperation in the economy, defence, and security, framing the summit as a launch pad to elevate it all.

“We do vital work on economy, defence, and security—but today we take it to another level with new agreements,” he affirmed.

*Says Nigeria has exited economic hardship phase

Meanwhile, the President has declared that Nigeria has emerged from a period of economic hardship, expressing optimism about the country’s recovery and prospects.

Speaking at an exhibition in the United Kingdom during his state visit, Tinubu said that the reforms his administration is implementing are beginning to yield results, steering the nation away from uncertainty.

“As I stand before you, I can confidently say we have navigated out of the dark tunnel of economic uncertainty and the hopelessness of the past,” he said. “What lies ahead is a brighter future for every Nigerian.”

The President reiterated that his administration was elected to restore hope, noting that the vision remains central to his policies and actions.

“Our mandate was to renew hope, and that hope is still alive and resonating with many Nigerians,” he stated.

Addressing Nigerians in the diaspora, Tinubu called for sustained optimism and collective responsibility in nation-building.

“It is you and I who must embrace what is positive about Nigeria and define our future with determination,” he said.

He also reaffirmed his commitment to leadership and reform, assuring citizens that tangible changes would continue to unfold.

“I will continue to be that inspiring leader, and I promise you the changes we seek will come,” Tinubu added.

Acknowledging global economic pressures, including volatility and declining purchasing power, the President urged Nigerians to remain resilient.

“Keep hope alive, stay focused, and let us build this nation together,” he said.

Highlighting the exhibition’s theme, ‘Nigeria’s Modernism,’ Tinubu described it as a reflection of the country’s cultural strength and identity.

“This is the Nigeria I know — a people who blend global excellence with the richness of our heritage. This is the Nigeria we are working to build,” he added.

Tinubu is in the United Kingdom on a state visit — the first in nearly 4 decades — during which he was received with ceremonial honours by King Charles III, alongside First Lady Oluremi Tinubu.

 

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