Bilateral trade between Nigeria and the United Kingdom (UK) has reached a record £8.1 billion annually, as President Bola Tinubu embarks on a State Visit aimed at strengthening economic and diplomatic ties.
Central to the visit is a £746 million seaport modernisation deal expected to transform Nigeria’s maritime infrastructure, the most significant upgrade in nearly 50 years.
The visit comes amid a surge in multi-million-pound investments by Nigerian and British firms across sectors including financial services, fintech, manufacturing, education and the creative industries.
These developments are projected to create hundreds of jobs in both countries, while highlighting Nigeria’s growing role in innovation and capital export.
In a notable move, Zenith Bank Nigeria has opened a branch in Manchester and is considering a potential listing on the London Stock Exchange by 2027.
Group Managing Director/CEO, Dame Dr Adaora Umeoji, said the expansion underscores the bank’s commitment to strengthening cross-border business relationships.
Cooperation in education and culture is also expanding, with UK universities increasing their presence in Nigeria and new creative exchange programmes underway.
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