New investment agreements between the United Kingdom and Nigeria are set to create jobs and boost economic activities in both countries.
The deals were concluded during ministerial discussions under the UK-Nigeria Enhanced Trade and Investment Partnership held in London ahead of President Bola Tinubu’s state visit.
The agreements will see increased investments across key sectors, including financial services, technology, education, and manufacturing.
Several Nigerian firms are expanding their operations in the UK as part of the partnership. Zenith Bank has opened a new branch in Manchester expected to create jobs, while Fidelity Bank is also strengthening its presence with plans to grow its workforce.
Other companies, including Moniepoint, Kuda, and LemFi, are scaling up their operations in the UK to support cross-border financial services.
In Nigeria, British firm Twinings Ovaltine has launched a £24m manufacturing facility in Lagos, creating over 100 direct jobs and boosting exports within West Africa.
The UK Secretary of State for Business and Trade, Peter Kyle, said the agreements reflect a shared commitment to enterprise, innovation, and economic growth.
He noted that the partnership would create opportunities for businesses and support job creation in both countries.
Also, the UK Deputy Prime Minister, David Lammy, said the collaboration is strengthening economic ties and opening new pathways for growth.
Bilateral trade between the UK and Nigeria currently stands at about £8.1bn annually, reflecting growing economic relations between both nations.
