Ahead of the State Visit of Nigeria’s President, Bola Ahmed Tinubu, and First Lady Senator Oluremi Tinubu, beginning Wednesday, 18 March, the United Kingdom and Nigeria have announced a series of major investment agreements.
The deals were concluded during ministerial discussions held in London under the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), reinforcing the UK’s position as a global hub for African business while highlighting Nigeria’s growing role in international trade and investment.
Hundreds of new jobs are expected to be created across the UK as Nigerian banks, fintech firms and creative industry businesses expand their operations, backed by millions in new investment.
The developments reflect deepening economic ties between both countries, with growth anticipated across financial services, technology, education and advanced manufacturing.
At the same time, UK companies are increasing their footprint in Nigeria. Twinings Ovaltine has launched a £24 million manufacturing facility in Lagos its first in Africa creating over 100 direct jobs and boosting exports across West Africa.
The agreements come as both countries intensify collaboration under the ETIP framework, aimed at reducing trade barriers and unlocking growth opportunities.
A high-level reception held at Kensington Palace brought together 180 senior representatives from government and industry to mark expanding cooperation across priority sectors including finance, infrastructure, education, creative industries and technology.
Several Nigerian financial institutions are scaling up operations in the UK.
Zenith Bank has opened a new branch in Manchester, expected to create up to 30 jobs, and is exploring a London Stock Exchange listing by 2027.
Fidelity Bank has rebranded Union Bank UK as FidBank UK and plans to double its workforce by 2026, while FCMB has selected the UK as the first international base for its digital cross-border payments platform.
Seven Nigerian banks now operate in the UK, collectively supporting at least 1,000 jobs.
Nigeria’s fintech sector is also expanding rapidly into the UK.
LemFi plans to invest £100 million over five years, establishing London as its global headquarters.
Moniepoint aims to grow its London team to 100 employees by 2026, while Kuda Bank is strengthening its UK base and plans to double its presence next year.
The creative sector is also seeing increased collaboration. EbonyLife will launch EbonyLife Place London, creating up to 40 jobs and strengthening the UK’s position as a hub for African storytelling.
Plans are also underway for a UK–Nigeria Advertising Summit and a talent exchange programme, alongside a UK/Nigeria Season of Culture scheduled for 2028.
In education, leading UK institutions are expanding partnerships in Nigeria.
The University of Birmingham and the University of Lagos will collaborate on programmes in artificial intelligence, digital communications and global surgery.
The London School of Economics has launched a data science partnership with Nile University of Nigeria, while Wellington College International Lagos is set to open in 2027 with capacity for 1,500 students.
EStars will also deliver esports-based digital learning programmes to around three million students in Lagos State.With bilateral trade now at a record £8.1 billion annually, the latest agreements underscore a strengthening partnership focused on innovation, investment and shared economic growth, as both countries position themselves for deeper long-term collaboration.
Written by Chioma Ezike