The Federal Government has defended its £746 million ports upgrade deal with the United Kingdom, saying the agreement will deliver strong economic gains for Nigeria.
The deal, worth about $997 million, is to upgrade Apapa Port and Tin Can Island Port. These ports handle about 70 per cent of Nigeria’s trade.
The Federal Ministry of Finance said the partnership benefits both sides. It rejected claims that foreign partners will gain more.
“This is not a zero-sum arrangement,” the ministry said.
The ministry claimed that the project will improve port efficiency and cut congestion. It will also reduce logistics costs for businesses.
Officials expect the upgrade to create thousands of jobs. These jobs will span construction, logistics, and support services.
The government added that the reform will boost Nigeria’s trade position under the African Continental Free Trade Area. It will also attract more investors.
Tackling Port Delays
The government aims to cut cargo dwell time at the ports. Goods currently stay between 18 and 21 days. The global average stands at about four days.
Officials aim to reduce this to fewer than seven days by 2026. They say this will improve turnaround time and cut costs.
The ministry stressed that delays act like a hidden tax on businesses. It said the reform will remove this burden.
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The upgrade forms part of a wider reform plan under President Bola Ahmed Tinubu.
The plan includes the National Single Window. This digital platform will simplify trade processes.
Traders will submit documents online, process permits, and make payments faster. Officials say documentation issues cause about 73 per cent of delays.
The ministry said both reforms must work together. Physical upgrades will ease congestion. Digital tools will speed up processing.
The government expects the reforms to lower the cost of goods. It also expects higher trade volumes and better revenue collection.
Manufacturers will access raw materials faster. Exporters will reach global markets more easily.
Officials say the combined impact will improve efficiency across Nigeria’s trade system.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
