Nigeria-UK Trade Hits £8.1 Billion

Bilateral trade between Nigeria and the United Kingdom has reached an all-time high of £8.1 billion, driven by new investments and expansions from companies in both countries. Nigerian banks like Zenith Bank and Fidelity Bank are scaling up operations in the UK, with Zenith Bank opening a Manchester branch and exploring a London Stock Exchange listing. Fintech innovators such as LemFi, Moniepoint Inc., and Kuda Bank are investing significantly in their UK presence, designating London as a global hub. Concurrently, British companies like Associated British Foods===Twinings Ovaltine have launched manufacturing facilities in Lagos, and Wise is set to receive its first Nigerian license. President Bola Tinubu's state visit to the UK underscores the strengthening economic ties, which are expected to create hundreds of new jobs and boost key growth sectors including financial services, technology, education, and creative industries. Educational institutions from both countries are also forging partnerships, with universities like Birmingham and Lagos collaborating on new programs, and Wellington College International Lagos set to open.