The federal government has announced that the long-awaited upgrade of the Apapa Port and Tin Can Island Port will commence in the second quarter of 2026, with completion expected within 48 months.
The project follows a £746 million export finance agreement between Nigeria and the United Kingdom, aimed at revitalising two of the country’s busiest maritime hubs.
Under the deal, UK Export Finance will guarantee loans for the redevelopment, while British Steel is set to supply 120,000 tonnes of steel valued at £70 million.
Speaking on Channels Television, Bolaji Akinola, special adviser to the Minister of marine and blue economy, expressed confidence that groundwork would begin imminently.
He said, “now that the financing aspect of it has been resolved, and the financing deal has been signed with Citibank and UK Export Finance, I am very optimistic that within the next quarter, the work should start.
“It is projected that once construction is flagged off, it will be completed within 48 months.”
Akinola added that the upgrade would include dredging of port channels to accommodate larger vessels, increasing the current draft from about 13 metres to at least 16 metres.
“That means vessels, much larger vessels, carrying over 10,000 TEUs and up to 20,000 TEUs in some instances, will be able to berth at our ports,” he explained.
Industry stakeholders have welcomed the development.
Boma Alabi, chairman of the Shipping Association of Nigeria, said the project offers renewed hope after years of neglect.
“Look at what we have been missing because we have not upgraded our infrastructure. Because we have not upgraded our infrastructure, our neighbours who have upgraded are enjoying the benefits,” she said.
Also commenting, Wale Edun the minister of finance and coordinating minister of the economy had said the initiative aligns with the government’s broader priorities on infrastructure, energy and industrial development.
He noted that strengthened bilateral partnerships would help attract critical investment, stimulate economic activity, create jobs and reduce poverty under the administration’s economic agenda.