NIGERIA-UK PARTNERSHIP SOARS: £8.1BN TRADE DEALS CREATE JOBS, DRIVE INVESTMENTS
GREATRIBUNETVNEWS-NIGERIA and the UK have seen a significant boost in trade, with bilateral trade volume hitting £8.1 billion annually, creating new jobs and investments
Key Issues:
– _”The UK and Nigeria have concluded several significant investment agreements during the ministerial discussions under the UK-Nigeria Enhanced Trade and Investment Partnership.”_ – UK Embassy
– Key Sectors: Financial services, technology, education, and advanced manufacturing driving growth.
– _”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.”_ – Peter Kyle, Business and Trade Secretary
– Mutual Benefits: Nigerian firms creating jobs in the UK, British businesses expanding into Nigeria’s growing market.
– _”Our partnership is strengthening both economies and delivering real benefits for people in both countries.”_ – Peter Kyle
“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.
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