The United Kingdom and Nigeria have finalised a series of major investment agreements ahead of President Bola Ahmed Tinubu’s official state visit, set to begin on March 18.
The deals were concluded during ministerial discussions under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) in London, aimed at strengthening economic ties and boosting investor confidence between both nations.
The agreements are expected to generate hundreds of jobs, with Nigerian banks, fintech firms, and creative industry players expanding operations in the UK, while British companies deepen investments in Nigeria.
Key highlights include the expansion of Nigerian firms such as LemFi, Kuda, Moniepoint, and Fidelity Bank in the UK. Zenith Bank has also opened a new branch in Manchester, projected to create about 30 direct jobs.
In Nigeria, Twinings Ovaltine has launched a £24 million manufacturing facility in Lagos—its first in Africa—creating over 100 direct jobs and enhancing export capacity across West Africa.
Additionally, Fidelity Bank has rebranded Union Bank UK as FidBank UK with plans for workforce expansion, while First City Monument Bank (FCMB) is introducing a cross-border digital payments platform in the UK.
UK Business and Trade Secretary, Peter Kyle, described the partnership as a reflection of shared commitment to innovation and growth, while UK Deputy Prime Minister, David Lammy, highlighted its role in reducing barriers and creating new opportunities.
The agreements reinforce Nigeria’s growing status as a hub for innovation and investment, while strengthening the UK’s position as a top destination for African businesses.
