Starmer meets Nigerian president as record steel deal agreed

"Under the agreement, British Steel will supply 120,000 tonnes of steel to refurbish two major ports in Lagos, with the contract worth 70m. Sir Keir hailed the president's state visit - the first by a leader of a west African nation in 37 years - as "historic"."

"The UK has already agreed a 746m deal with Nigeria to fund the redevelopment of the Lagos Port Complex and the TinCan Island Port Complex. UK Export Finance (UKEF), the UK government's export credit agency, has provided a guarantee to the banks loaning the funds under the condition at least 20% of the contracts are sourced from the UK."

"At least 236m of supplier contracts will be directed to British firms, including 70m for British steel - the company's largest ever export backed by UKEF. Trade Secretary Peter Kyle said the deal would "reinforce British Steel's world-class expertise while supporting jobs and growth in Scunthorpe"."

Prime Minister Sir Keir Starmer met Nigerian President Bola Ahmed Tinubu at Downing Street to finalize a historic steel agreement. British Steel will supply 120,000 tonnes of steel to refurbish two major ports in Lagos under a £70m contract. The visit marks the first state visit by a West African leader in 37 years. The King hosted a state banquet at Windsor Castle, and the two countries signed a Memorandum of Understanding to explore future trade opportunities. The UK has committed £746m to fund the redevelopment of Lagos Port Complex and TinCan Island Port Complex, with at least £236m of supplier contracts directed to British firms. UK Export Finance guaranteed bank loans on condition that at least 20% of contracts are sourced from the UK.

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