Prime Minister Sir Keir Starmer has met Nigerian President Bola Ahmed Tinubu at Downing Street, as the two countries agreed a record-breaking steel deal.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”.On Wednesday, the King hosted a spectacular state banquet at Windsor Castle for the president and first lady, praising the strength of the ties between the two nations.
Tinubu said the two leaders were set to discuss trade and the economy as well as the challenges of terrorism and climate change.During his visit, the two countries will sign a Memorandum of Understanding to explore future trade and investment opportunities
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.It comes as the UK sets out a new strategy to boost the domestic steel industry.Trade Secretary Peter Kyle said the deal would “reinforce British Steel’s world-class expertise while supporting jobs and growth in Scunthorpe”.Meanwhile, 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”.
Tinubu’s visit was also the first to the UK by a Muslim leader during Ramadan in almost a century.Special adaptations were made to the state banquet, with a prayer room set aside in Windsor Castle, while the usual lunch hosted by the King did not take place as Tinubu was fasting.On Thursday, First Lady Oluremi Tinubu, who is Christian, also visited Lambeth Palace, the London home of the archbishop of Canterbury.
