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HomeBUSINESSTinubu to witness £746m Nigeria–UK port financing deal during state visit

Tinubu to witness £746m Nigeria–UK port financing deal during state visit

President Bola Tinubu will witness the signing of a landmark £746 million financing agreement between the UK Export Finance, UKEF, and the Nigerian Ports Authority, NPA, during his upcoming state visit to the United Kingdom, scheduled to begin on Tuesday.

A statement by President’s Special Adviser on Information and Strategy, Bayo Onanuga, on Monday said with the deal, the Federal Ministry of Finance will support the refurbishment of two of Nigeria’s major national maritime infrastructure, the Lagos Port Complex, Apapa Quays, and the Tin Can Island Port Complex.

Accompanied by the First Lady, Senator Oluremi Tinubu, the President will depart Abuja on Tuesday, March 17, for a State Visit to the United Kingdom as guests of Their Majesties King Charles III and Queen Camilla.

“King Charles will host President Tinubu and his wife at Windsor Castle from Wednesday, March 18, to Thursday, March 19.

“The state visit is the first by a Nigerian leader in 37 years. President Tinubu is also the first Nigerian leader to be hosted by the British monarch at Windsor Castle.

“Nigeria and the United Kingdom share a deep history of ties and a special bond. The purpose of this visit is to strengthen bilateral relations and explore avenues for collaboration on issues such as immigration, trade, investment, and cultural exchange,” the statement read.

It noted that while at Windsor Castle, Their Majesties will invite the President and the First Lady to view a special exhibition of items from the Royal Collection related to Nigeria.

Onanuga further disclosed that later, the King and the President will hold private discussions and meet with organisations engaged in interfaith dialogue, both nationally and internationally.

“The Royal Family will host a State Banquet in honour of the Nigerian guests in the evening.

“President Tinubu will also hold a bilateral meeting with Prime Minister Keir Starmer at 10 Downing Street, which will lead to expanded bilateral engagement between senior officials of the two countries. The meeting will culminate in the signing of various Memoranda of Understanding and agreements, including those on trade, investment, defence, and cultural cooperation.

“The President will be the guest of honour at the Nigerian Modernism exhibition, showcasing modern arts and culture, and will also attend a reception with Nigerian and British business leaders and the diaspora community,” he said.

Members of the President’s entourage include: Senate President, Godswill Akpabio; Attorney General and Minister of Justice, Prince Lateef Fagbemi SAN; Minister of Solid Minerals, Dele Alake; Minister of Information and National Orientation, Idris Mohammed, Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.

Others are: Minister of Culture and Creative Economy, Hannatu Musawa; Minister of Communications and Digital Economy, Bosun Tijani; Minister of Defence, General Christopher Musa (rtd); National Security Adviser, Malam Nuhu Ribadu; and Director-General of the National Intelligence Agency, Ambassador Mohammed Mohammed.

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