£746m (~$990m) export finance facility guaranteed by UK Export Finance (UKEF), coordinated by Citibank N.A. (London Branch), to fund redevelopment of the Lagos Port Complex (Apapa) and Tin Can Island Port Complex.
Market Significance
Largest UK-Nigeria port financing deal in nearly five decades; £236m of associated contracts earmarked for UK suppliers, including a £70m British Steel supply agreement.
Risk / Considerations
Full construction scope and timeline not yet publicly detailed; contractor selection (Hitech Nigeria, ITB Nigeria) drew scrutiny over lack of open competitive tender.
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