Notice

Category B project supported: Tin Can and Lagos Ports, Lagos, Nigeria

Published 23 June 2026

1. PROJECT DESCRIPTION

UK Export Finance has agreed to provide support to The Nigerian Ports Authority (with the Nigerian Federal Ministry of Finance as the Guarantor) in respect of  design and construction services for the rennovation of 20x berths at the existing Tin Can and Lagos Ports.

A key aim of the Project is to rehabilitate existing berths which are heavily degraded; doing so will enable the port to operate at a higher capacity than it is currently able to.

The Project includes: - Rehabilitation of quay walls through the installation of new modular sections; - Replacement of existing paved areas around the berths; and - Installation of new fenders and mooring beam structures.

2. PROJECT SECTOR

The Project is in the civil construction sector.

3. PROJECT SPONSORS

The Project is being developed by The Nigerian Ports Authority.

4. EXPORTERS

Hitech Construction Company Limited and ITB Nigeria Limited (as an unincorporated joint venture).

5. EXPORT CREDIT AGENT BANK

Citibank Europe PLC, UK Branch is the Agent Bank. The lenders are Citibank, N.A., London Branch, Barclays Bank plc, Lloyds Bank plc, The Toronto-Dominion Bank, and AB Svensk Exportkredit (publ). KUKE, the official Polish Export Credit Agency, is providing reinsurance to UKEF.

6. AMOUNT OF UK EXPORT FINANCE SUPPORT

The gross maximum liability of the support is £1,075,543,840.46.

7. OECD COMMON APPROACHES AND EQUATOR PRINCIPLES

UK Export Finance categorised the Project as Category B i.e. having environmental, social and human rights (ESHR) impacts that are few in number, site-specific, few (if any) of which are irreversible, and for which mitigation measures are more readily available in accordance with the definition in the Organisation for Economic Co-Operation and Development (OECD) Recommendation of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (“Common Approaches”), OECD/LEGAL/0393 and the Equator Principles (2020).

8. ENVIRONMENTAL, SOCIAL AND HUMAN RIGHTS STANDARDS

Project related ESHR documentation was reviewed for their alignment against the 2012 International Finance Corporation (IFC) Performance Standards (PS) on Environmental and Social Sustainability and the World Bank Group Environmental, Health and Safety (EHS) Guidelines.

The applicable IFC PS were:

• PS1: Assessment and Management of Environmental and Social Risks and Impacts;
• PS2: Labour and Working Conditions;
• PS3: Resource Efficiency and Pollution Prevention;
• PS4: Community Health, Safety and Security; and
• PS6: Biodiversity Conservation and Sustainable Management of Living Natural Resources.

The applicable World Bank Group EHS Guidelines:

• General EHS Guidelines (2007); and
• EHS Guidelines for Ports, Harbours, and Terminals (2017).

9. NATURE OF ESHR IMPACTS

The review of potential ESHR risks and impacts took into account the following impacts, receptors and issues during the construction and operational phases of the:

• health and safety;
• emissions to the atmosphere (including land, air and water);
• wastewater treatment;
• waste and hazardous material management;
• marine habitats;
• emergency planning and response;
• grievance mechanisms;
• worker conditions of contract; and
• community engagement.

10. ASSESSMENT OF ESHR IMPACTS

A review was undertaken in line with the requirements of the OECD Common Approaches and Equator Principles to identify potential ESHR risks and impacts of the Project and how these would be effectively managed.

The review included:

• Desk-based review of project-related documentation: Environmental and Social Impact Assessment, Environmental and Social Management Plans, and Stakeholder Engagement Plan; and
• Follow-up meetings with relevant Project representatives.

The results of this review formed the basis for the evaluation of the Project’s alignment with relevant international standards, and recommendations for future compliance and monitoring.

Taking account of the review, the Project was deemed to have potential to cause a number of adverse environmental and social impacts both during construction and operation. However, a proposed suite of controls as part of the Project’s environmental and social management systems should facilitate the management of these impacts.

11. CLIMATE CHANGE CONSIDERATIONS

UKEF considered the potential direct and indirect green house gas (GHG) emissions of the Project and effects of climate change factors on the Project as part of its ESHR review.

The Project is not considered to be a carbon intensive undertaking (such as fossil fuels or petrochemical) and so “high” GHG emissions in excess of relevant thresholds for quantification and reporting set by international standards were reasonably not envisaged.

The review revealed that the Project design has considered potential physical impacts of climate change such as changes to rainfall and weather patterns.

12. DECISION

Various actions have been agreed between the Project developer, operator, and parties involved in the financing, which are necessary to ensure the Project’s on-going alignment with international standards. Following agreement of these commitments, it was concluded that the Project should meet the relevant international standards over the Project cycle. UKEF has therefore decided to provide its support in respect of the supply of goods and services by UK exporters to the Project.

A condition of support is that Project will be subject to monitoring and reporting in order to provide satisfaction that the Project is aligned with the relevant international standards throughout the duration of support.

UK Export Finance 22 June 2026