Tinubu: Nigeria, UK must nurture trade and economic relations as FG signs one million euros to renovate two major ports – THIS FACILITY

President Bola Tinubu on Thursday said Nigeria and the United Kingdom must consolidate their long-standing relationship by strengthening trade ties and expanding mutually beneficial economic cooperation.

President Tinubu met with UK Prime Minister Sir Keir Starmer at Downing Street, where the two countries agreed a deal to redevelop two major ports in Lagos, worth £746 million.

The president described his state visit to the UK – the first by a Nigerian leader in 37 years – as “very exciting and significant” in strengthening bilateral relations between the two nations.

“We cannot forget the institutional development we have enjoyed over the years,” the Nigerian leader said in Downing Street ahead of bilateral talks.

He noted that discussions will cover trade, economics, climate change, terrorism and broader global challenges.

“Nigeria is currently undergoing strong reforms of its economy and we will discuss this further in our bilateral discussions.

“Currently the whole world is being questioned. Nigeria is not immune to what is happening in the world. I have seen your reactions on television on some developments.

“My reaction, as you rightly said, is about the economy and the well-being of the people and how we should work together to improve the living conditions of our people,” he said.

Prime Minister Starmer, in his remarks, described the visit as historic and highlighted the importance of the state banquet hosted by the King in honor of the Nigerian delegation.

He reaffirmed the UK’s appreciation for its enduring relationship with Nigeria, particularly the vibrant people-to-people links that continue to strengthen both societies.

He noted that both countries already maintain strong collaboration in areas such as economy, defense and security, and said the new agreements reached on exports and trade reflect a shared determination to deepen cooperation and broaden engagement on global issues.

Later, at Lancaster House, President Bola Tinubu, together with his wife, Oluremi Tinubu, witnessed the P746 million deal for the modernization of infrastructure at Apapa and Tin Can Island ports in Lagos. The agreement was signed on behalf of Nigeria by the Minister for Finance and Coordinating Minister for the Economy, Wale Edun, and the UK Parliamentary Under-Secretary of State and Minister for Small Business and Economic Transformation, Blair McDougall MP, on behalf of the UK Government.

Edun explained that the agreements are consistent with Nigeria’s priority on infrastructure, energy and industrial development.

He noted that increasing emphasis on bilateral partnerships would help attract the scale of investments needed to boost economic activity, create jobs and reduce poverty, in line with the administration’s Renewed Hope Agenda.

He said the agreements underline a growing mutual trust and confidence between the two countries, as well as a shared commitment to deliver tangible economic outcomes for Nigeria and the United Kingdom.

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