The United Kingdom and Nigeria have sealed major investment agreements in view of President Bola Ahmed Tinubu, scheduled visit on Wednesday, (today) March 18.
The agreements were reached during ministerial discussions under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) held in London, reinforcing economic ties and boost investors.
The development is expected to generate hundreds of new jobs across both nations, as Nigerian banks, fintech firms, and creative industry players expand operations in the UK, while British companies deepen investments in Nigeria.
Among key highlights, Nigerian firms such as LemFi, Kuda, Moniepoint, and Fidelity Bank are scaling up their presence in the UK. Zenith Bank has also opened a new branch in Manchester, expected to create about 30 direct jobs and strengthen economic activity in the region.
The agreements also underscore Nigeria’s growing role as a hub for innovation and investment, while consolidating the UK’s position as a leading global destination for African businesses.
Speaking on the development, UK Business and Trade Secretary, Peter Kyle, said the partnership reflects a shared commitment to innovation and economic growth.
“The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives. These commitments demonstrate how our partnership is delivering real benefits for both countries,” he said.
UK Deputy Prime Minister, David Lammy, added that the partnership is creating new opportunities for businesses and innovators in both nations.
“We are reducing barriers, creating jobs, and opening new pathways for growth. The cultural and commercial ties between our countries continue to thrive,” he said.
The partnership also extends to education, with top UK institutions forming alliances with Nigerian universities.
The University of Birmingham and the University of Lagos have signed agreements in areas including Applied AI and Global Surgery, while other institutions are expanding their footprint in Nigeria.
With bilateral trade between both countries now valued at £8.1 billion annually, officials say the agreements signal a new phase of economic cooperation and shared growth.
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