KUKE and UKEF Partner in Landmark $1 Billion Modernization of Nigeria’s Ports
WARSAW / LONDON – KUKE announces its participation in the financing of comprehensive modernization of the Western Lagos Ports in Nigeria.
This marks the largest sovereign Export Credit Agency (ECA) transaction in Nigeria since 2009 and represents KUKE’s debut project in the country, opening a new chapter for Polish economic engagement in West Africa.
The USD 1 billion investment is backed by UK Export Finance (UKEF), with KUKE providing reinsurance for almost 50% of the total amount. The financing was provided by a consortium of banks, with Citibank N.A., London Branch acting as the Arranger.
Strategic Importance and Global Impact
The Lagos ports are a critical economic priority, handling nearly 90% of Nigeria's foreign trade. Their modernization is expected to transform regional logistics.
Polish companies using KUKE’s financing instruments are strengthening their position as key suppliers and contractors for major infrastructure projects. This project confirms our role as a highly competent business partner in emerging markets and showcases successful cooperation with British institutions
This is another large-scale project for KUKE in Africa, a region where we see immense modernization needs and great potential for Polish business. It is also another successful transaction delivered alongside our colleagues at UKEF, proving that Polish products and solutions are competitive on a global level.
Empowering Polish Suppliers
Through KUKE’s involvement, a wide array of Polish businesses—ranging from large manufacturing plants to smaller specialized firms—will be integrated into the project’s supply chain on a significant scale.
This deal represents a milestone for UK-Nigeria trade relations. It’s fantastic to have the support of our counterparts at KUKE in securing vital export contracts for the modernization of Nigeria’s ports. These alliances benefit not just our respective nations, but the entire global economy."