The Federal Government has defended its £746 million ports upgrade deal with the United Kingdom, insisting it will deliver faster trade, lower costs and jobs, despite concerns that foreign partners may gain more.
The agreement targets the modernisation of Apapa and Tin Can Island ports, which handle about 70 per cent of Nigeria’s trade. The project will boost efficiency and position the country more competitively in regional and global markets.
Responding to criticism, the Ministry of Finance said the deal is balanced, not a “zero-sum” arrangement, with Nigeria gaining critical infrastructure while partners participate in financing and commercial opportunities.
A key goal is slashing cargo dwell time from the current 18–21 days to under seven days by 2026, bringing Nigeria closer to global standards and easing pressure on businesses burdened by high logistics costs.
The upgrade forms part of a wider reform drive that includes the National Single Window, a digital platform designed to streamline documentation, payments and approvals — currently responsible for most port delays.
The combined impact of physical upgrades and digital reforms will unlock efficiency across the trade chain, reduce costs for importers and exporters, attract investment and ultimately lower prices while boosting government revenue.