Prime Minister Keir Starmer welcomed Nigerian President Bola Tinubu to Downing Street on Thursday as the two nations signed a record-breaking £746m deal to refurbish Lagos ports — the largest-ever UK export finance agreement with a sub-Saharan African nation.
The centerpiece of the deal: British Steel will supply 120,000 tonnes of steel for the Lagos Port Complex and TinCan Island Port Complex, a £70m contract that company executives called the largest export order backed by UK Export Finance in their history.
“British Steel will reinforce British Steel’s world-class expertise while supporting jobs and growth in Scunthorpe,” Trade Secretary Peter Kyle said.
Starmer hailed the visit — the first state visit by a West African leader in 37 years — as “historic.” Tinubu said the two leaders would discuss trade, the economy, terrorism, and climate change during his stay.
The Deal
The £746m financing package is guaranteed by UK Export Finance, the government’s export credit agency, under the condition that at least 20% of contracts are sourced from British suppliers. That translates to at least £236m in contracts for UK firms, including the £70m steel order.
British Steel CEO Allan Bell called it “the largest single export order of steel in the company’s history” and “a significant milestone” for the Scunthorpe-based manufacturer.
Nigerian Minister of Marine and Blue Economy Adegboyega Oyetola said the development would “strengthen Nigeria’s position as a leading maritime hub in west and central Africa”.
The Memorandum of Understanding signed during the visit will explore future trade and investment opportunities between the two nations.
The Banquet
Wednesday night, King Charles hosted a spectacular state banquet at Windsor Castle for the president and first lady, praising the strength of ties between the two nations.
The visit carried particular significance: it was the first time in nearly a century that a Muslim leader was hosted in the UK during Ramadan. Special adaptations were made throughout the visit — a prayer room was set aside in Windsor Castle, and the usual lunch hosted by the King did not take place as Tinubu was fasting.
First Lady Oluremi Tinubu, who is Christian, visited Lambeth Palace on Thursday, meeting with the Archbishop of Canterbury.
The Shadow of Terror
The visit comes as Nigeria grapples with a renewed wave of violence. This week, a series of suspected suicide bombings in the northeastern state of Borno killed at least 23 people and injured 108 others . The attacks were blamed on hard-line Islamist militants from Boko Haram, which has waged a 16-year insurgency in the region.
The violence serves as a grim reminder of the security challenges Tinubu faces at home — challenges that were on the agenda during his talks with Starmer.
What Comes Next
For British Steel, the deal means months of work at its Scunthorpe plant and a showcase for UK manufacturing on an international stage. For Nigeria, it means modernized ports capable of handling increased trade. For both nations, it means a deepening of economic ties at a time of global uncertainty.
Tinubu’s historic visit — the first by a West African leader in 37 years, the first by a fasting Muslim leader in nearly a century — has delivered concrete results. The question now is whether the partnership will expand beyond steel and ports into the broader trade and investment opportunities both leaders have promised to explore.
