Nigeria and the United Kingdom have achieved an all-time high in bilateral trade, reaching £8.1 billion annually. This growth is expected to create hundreds of jobs as Nigerian banks, fintech firms, and creative industry businesses expand operations in the UK.
UK’s Twinings Ovaltine opened a £24 million manufacturing facility in Lagos, the first of its kind in Africa. The plant will create over 100 direct jobs and boost exports across West Africa. This comes ahead of President Bola Ahmed Tinubu and First Lady Oluremi Tinubu’s state visit to the UK starting 18 March 2026.
The British High Commission said the investment reinforces the UK’s position as a global business hub while showcasing Nigeria as a source of innovation and investment. The growth is supported by the UK’s Trade and Industrial Strategies and the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP).
Deputy Prime Minister David Lammy hosted an ETIP reception with 180 senior government and industry representatives. They celebrated the depth and growth of Nigeria-UK trade in financial services, education, creative industries, infrastructure, and technology.
Business and Trade Secretary Peter Kyle said Nigerian and British firms are creating jobs and expanding markets, benefiting people in both countries. Lammy added that the partnership reduces barriers, opens new pathways for growth, and strengthens cultural and commercial ties.
Nigerian Banks Expand in the UK
Zenith Bank opened its Manchester branch on 17 March 2026, creating 30 jobs and exploring a 2027 London Stock Exchange listing to deepen its UK presence.
Fidelity Bank rebranded Union Bank UK into FidBank UK, plans to double its 62-person workforce in 2026, and made London its global hub. FCMB selected the UK for its first international digital cross-border payments platform. Seven Nigerian banks now operate in the UK, supporting over 1,000 jobs.
Zenith Bank CEO Dame Adaora Umeoji said the expansion strengthens trade, investments, and business connections between Africa and the UK.
Nigerian fintech firms are rapidly expanding in the UK. LemFi plans to invest £100 million over five years, making London its global headquarters. Moniepoint will grow its London team to 100 employees, supporting millions of African users. Kuda Bank plans to double its UK footprint to enable global expansion.
Creative Industries Strengthen Cultural Ties
EbonyLife will launch EbonyLife Place London, creating up to 40 jobs and strengthening UK-Africa storytelling.
The SCALE Creative Entrepreneur Award and a UK-Nigeria Advertising Summit will support entrepreneurs and foster talent exchange. The UK/Nigeria Season of Culture 2028 will feature joint events designed by UK and Nigerian creative organisations.
A Creative Industries Roundtable at Lancaster House will bring together alumni, Chevening scholars, and creative leaders from both countries.
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British fintech Wise will seek its first Nigerian licence, enabling expansion in a remittance market valued at £39.9 million.
The Nigeria Sovereign Investment Authority (NSIA) signed an agreement with Asset Green Ltd to develop a large-scale integrated dairy project. The project will strengthen Nigeria’s dairy value chain, reduce imports, and improve nutrition.
Leading UK universities are expanding into Nigeria. The University of Birmingham and the University of Lagos will offer programmes in Applied AI, Digital Communications, and Global Surgery.
The London School of Economics launched a Data Science partnership with Nile University, and the University of the West of England opened a Lagos office.
Wellington College International Lagos will open in 2027 with 1,500 students.
EStars, a UK esports and tech firm, will partner with the Lagos State Ministry of Basic and Secondary Education to deliver digital learning programmes to around three million students.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
