Country
Nigeria
Sector
Infrastructure
Intelligence Type
Capital
Status / Stage
Announced
Estimated Value
USD 990000000
Confidence
Confirmed
Latest Development
£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.
Capital Details
Capital TypeInvestment
Date19 Mar 2026
Investor / FinancierCitibank N.A. (London Branch); UK Export Finance (guarantor)
Recipient / BorrowerFederal Government of Nigeria (Ministry of Finance)
Purpose of CapitalRedevelopment and modernisation of Apapa and Tin Can Island port complexes
Financing StructureBuyer Credit Facility, UKEF-guaranteed
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.
Commercial Opportunity Intelligence
Commercial ReadinessVery Early