Audio By Carbonatix
Britain and Nigeria announced a 746 million pound ($990.32 million) export finance deal on Thursday to fund the redevelopment of two of Nigeria's main trading ports.
- UK Export Finance will guarantee the investment in the refurbishment of the Lagos Port Complex and the TinCan Island Port Complex.
- The loan will be coordinated and arranged by Citibank.
- The deal is expected to result in 236 million pounds of supplier contracts for British firms.
- Benefits include a 70 million pound contract for British Steel, described by the government as a major boost to Britain's steelmaking industry, on the day it announced a new strategy to help the struggling sector.
- Deal comes during Nigerian President Bola Tinubu's state visit to Britain.
Latest Stories
-
‘Your background does not determine your destiny’ – UG Dean of Student Affairs tells youth
55 seconds -
When the State Investigates Itself: Protocol, Power, and the danger of undisciplined intelligence oversight
16 minutes -
Don’t build what you can’t afford to finish – Architect on building a dream home
24 minutes -
Ablakwa reveals expert committee to shape Mahama’s AU chairmanship agenda
34 minutes -
The handshake for peace: Chief Imam unites men at centre of religious controversy
39 minutes -
Photos: Mahama donates items to Zuarungu Health Centre to support Free Primary Healthcare
40 minutes -
KMA assembly members trained on leadership, by-laws and accountability
48 minutes -
Sir Rod Stewart calls off remaining tour dates after coronary stent procedure
2 hours -
Oppong Nkrumah drags Chief Justice to Supreme Court over ‘selective justice’ during legal vacation
2 hours -
‘It’s not Tinubu’ – Femi Kuti reveals Nigeria’s real problem
2 hours -
No Nigerian singer has more hits than me – Davido boasts
2 hours -
Social media firms urge caution on early Australia under-16 ban data
2 hours -
Chad’s president pardons main rival and opposition leader in jail
2 hours -
The Office’s Lucy Davis ‘overwhelmed’ by kindness after cancer diagnosis
3 hours -
New Zealand break with OFC to withdraw Infantino support
3 hours