Bilateral Trade volume between Nigeria and the United Kingdom, (UK),has climbed to £8.1 billion a year.
The UK Embassy in a statement on Tuesday, said the UK and Nigeria have concluded several significant investment agreements during the ministerial discussions under the UK-Nigeria Enhanced Trade and Investment Partnership which held yesterday in London.
The Embassy commended the UK’s Trade and Industrial Strategies, combined with commitments made through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) through which the government is attracting investment into key growth sectors including financial services, technology, education and advanced manufacturing.
The Deputy Prime Minister held an ETIP reception on Wednesday at Kensington Palace, bringing together 180 senior representatives from government and industry to celebrate the breadth, depth, and continued growth of our trade relationship across priority sectors including financial services, education, creative industries, infrastructure and technology.
Business and Trade Secretary Peter Kyle said: “The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives, and today’s commitments show exactly that. With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries.”
Deputy Prime Minister David Lammy stated: “The UK and Nigeria’s Strategic Partnership is bringing momentum and opportunity to innovators in both our countries. We are reducing barriers, creating jobs and opening new pathways for growth. Growth is the core mission of this government, and it underpins our relationship with Nigeria.
“I am deeply proud that the cultural and commercial bonds between our nations are thriving and that both our businesses and people are feeling the benefits of that.”
According to the statement, Zenith Bank, opened its Manchester branch on Tuesday with the capacity to create up to 30 new direct jobs in a boost for the Northwest economy.
The bank is also exploring a 2027 London Stock Exchange listing to deepen its UK market presence and unlock long-term funding for UK-Africa growth.
The Embassy also noted that Fidelity Bank’s acquisition and rebrand of Union Bank UK into FidBank UK with plans to double its 62‑person workforce in 2026 and add new capital, while the Fidelity Group makes London its global hub.
It added:”FCMB has also selected the UK as the first international destination for its digital cross border payments platform, boosting trade and investment flows between Africa and the rest of the world.
“Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total.”
Commenting, Dame Dr. Adaora Umeoji, Group Managing Director/CEO, Zenith Bank Plc, said: “the United Kingdom remains a key global financial centre.
She added:”The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”
The Nigeria Sovereign Investment Authority (NSIA), has signed an agreement with Asset Green Ltd to explore a large scale integrated dairy project that will strengthen Nigeria’s dairy value chain, reduce reliance on imports and improve nutrition.
Leading UK universities are also expanding into Nigeria, helping train the next generation of Nigerian and British scientists, technologists and innovators.
“Nigeria is a key education partner and a priority country for the UK’s International Education Strategy.”
The statement said the University of Birmingham and the University of Lagos have signed a new agreement to deliver programmes in Applied AI, Digital Communications and Global Surgery.
