Nigeria Secures £746M for Port Modernization
Analysis based on 6 articles · First reported Apr 09, 2026 · Last updated Apr 11, 2026
The secured £746 million for the modernization of Nigeria — Port of Apapa and Nigeria — Tin Can Island Port in Nigeria is expected to significantly boost the country's maritime sector, enhancing trade capacity and competitiveness. This development, along with the launch of a National Policy on Marine and Blue Economy, signals a positive outlook for investors in Nigeria's blue economy, potentially attracting more foreign direct investment and improving logistics efficiency.
Nigeria has secured £746 million for the modernization of its Nigeria — Port of Apapa and Nigeria — Tin Can Island Port in Lagos, a move announced by Dr. Gboyega Oyetola, the Minister of Marine and Blue Economy, at the Blue Economy Investment Summit 2026 in Abuja. This project aims to significantly enhance the capacity, effectiveness, and competitiveness of these crucial ports. The ministry has also reported substantial revenue growth, from N700.79 billion in 2023 to approximately N1.83 trillion by the end of 2025, attributed to reforms and digitalization. Nigeria is also prioritizing the revitalization of the Regional Maritime Development Bank and has launched a National Policy on Marine and Blue Economy. Industry leaders like Ronke Kosoko of Maritime Innovations Hub and Frederik Klinke of APM Terminals Nigeria emphasized the critical timing for Nigeria to leverage its maritime potential, while Akutah Pius Ukeyima of the Nigeria — Nigerian Shippers Council highlighted the need to strengthen transport systems for intra-African trade. Nigeria — Delta State, led by Governor Sheriff Oborevwori, is also establishing its own blue economy committees.
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