The federal government has announced that the long-awaited upgrade of Apapa and Tin Can Island ports in Lagos will begin in the second quarter of 2026, with completion expected within 48 months.

The development follows a £746 million export finance agreement signed between Nigeria and the United Kingdom on March 19 to support the rehabilitation of the two major port facilities, PUNCH reported.

Under the agreement, UK Export Finance (UKEF) will guarantee loans for the refurbishment of the Apapa and Tin Can Island port complexes.

The deal also includes a contract for British Steel to supply 120,000 tonnes of steel valued at £70 million for the project. Officials said the arrangement is expected to generate about £236 million in supply contracts for British firms, with at least 20 per cent of project components to be sourced from the UK. R

Work expected to begin next quarter

Speaking on Channels Television, Bolaji Akinola said the project would commence once the financing processes are fully concluded. Akinola expressed optimism that construction would begin in the next quarter, noting that the agreement with Citibank and UKEF has addressed funding concerns.

He added that once work begins, the project is projected to be completed within four years.

The special adviser explained that the upgrade will include dredging of port channels to accommodate bigger vessels. According to him, the current draft level at Lagos ports, which stands at about 13 metres, will be increased to at least 16 metres after the upgrade.

This improvement, he said, will enable the ports to receive larger ships carrying between 10,000 and 20,000 twenty-foot equivalent units (TEUs).