The Managing Director, Dr. Abubakar Dantsoho, alongside the Executive Director, Finance & Administration, represented the Authority at the signing of a £746 million financing agreement aimed at modernising the ageing infrastructure at Apapa and Tin Can Island Ports.
The agreement was signed by the Minister of Finance in partnership with UK Export Finance (UKEF), marking a significant milestone in the Authority’s efforts to reposition Nigeria’s seaports for greater efficiency and competitiveness.
As part of its broader strategy, the Authority is also exploring additional funding options to support the development of eastern ports and the renewal of critical equipment.
The modernisation project is set to deepen port channels and facilitate the deployment of advanced cargo-handling systems, positioning both Apapa and Tin Can Island Ports to accommodate larger, post-Panamax vessels and boost overall trade capacity.
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