A modern UK-Nigeria partnership built for the future

Freshly back from the historic Nigerian State Visit to the UK, I am reminded of how long-standing and deep the relationship between our two countries is. As the British Deputy High Commissioner in Lagos, I see every day how shared history and close ties between our peoples bring the UK and Nigeria closer together. Strengthening our diplomatic and economic relationship is a natural next step – but only if the right conditions are in place.

In 2024, our foreign ministers signed a strategic partnership that set out a clear vision for deeper, more modern cooperation. It was built on decades of close engagement but also signalled a shared determination to match ambition with action in areas where our interests and strengths align.

Nigeria’s recent economic decisions are beginning to show real results. The government’s commitment to stabilising the macroeconomic environment, through tough but necessary reforms, has laid the foundation for a new phase of growth. These are examples of the right conditions that create space for a modern UK-Nigeria economic partnership, one led by the private sector and based on investment and innovation.

This shift is already visible in our work together. The UK is increasingly using its global expertise, networks, and convening power to help catalyse greater capital flows into Nigeria, supporting the country’s efforts to unlock growth and create sustainable jobs.

British International Investment (BII) continues to play a central role in this work. Its investments span renewable‑energy mini‑grids expanding electricity access to financing facilities that are designed to bring down the cost of borrowing for medium and small-medium enterprises.

But access to funding alone is not enough. Businesses also need to show that they are investible. This is where the UK’s Manufacturing Africa programme comes in. It helps promising Nigerian manufacturing companies to prepare for investment by strengthening business plans, improving due diligence, and reducing barriers to accessing finance. This support allows companies to scale faster and compete both regionally and globally.

We are also pleased that Nigeria is once again eligible for support from UK Export Finance, reflecting progress made through recent economic reforms. The first deal was signed during the state visit – a landmark agreement that will improve trade efficiency, strengthen logistics and deepen economic integration between our nations. Alongside this investment is the agreement to look at more priority programmes, an important step that will improve long-term partnerships on trade, infrastructure and sustainable growth.

Our trade and investment ties have also strengthened significantly. The Enhanced Trade and Investment Partnership (ETIP), signed in early 2024. Globally, the only other ETIP was with India. That Nigeria is one of only two countries in the world to have such a partnership with the UK speaks volumes about the scale and promise of our economic relationship.

Trade between our two countries reached a historic £8.1 billion in the year to September 2025. Nigeria is now the UK’s second-largest trading partner in Africa, and the UK accounts for a substantial proportion of foreign portfolio investments. ETIP identifies sectors of mutual interest where our comparative advantages complement each other, from financial and professional services to education and, notably, the creative industries, where Nigeria is a global powerhouse and the UK a longstanding supporter and partner.

One such example is the new $496 million agreement between the Nigeria Sovereign Investment Authority (NSIA) and UK‑based Asset Green Ltd. to develop one of Nigeria’s most ambitious integrated dairy livestock production and processing platforms. Expected to generate over $620 million annually and create 7,500 jobs, the project builds on the UK’s early support in the establishment of NSIA more than a decade ago, reflecting how long‑standing cooperation is now translating into large‑scale, commercially driven investments that produce positive outcomes for Nigerian farmers and citizens.

Across the private sector, UK companies continue to invest in Nigeria’s growth. Twinings Ovaltine has opened a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting exports across West Africa. UK fintech leader Wise is expanding after securing its first Nigerian licence, while British universities – from the University of Birmingham to the London School of Economics – are strengthening academic partnerships and training the next generation of Nigerian and British innovators.

At the same time, Nigerian firms are choosing the UK as a trusted base for global expansion. Leading fintechs LemFi, Piggyvest, Moniepoint, and Kuda are scaling their UK operations, creating high‑value jobs and taking advantage of the UK’s world‑class financial ecosystem. Nigerian banks are also increasing their footprint: Zenith Bank’s new Manchester branch opened last month, creating up to 30 new jobs and deepening the bank’s UK market presence, while Fidelity Bank and FCMB expand their operations and digital services. Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs.

These achievements were a key part of President Bola Ahmed Tinubu’s recent visit to the United Kingdom, which highlighted just how far our diplomatic and economic partnership has advanced. It was a moment of real pride for me personally and for the wider UK mission in Nigeria to have contributed to this progress. More importantly, it signals the value the United Kingdom places on its partnership with Nigeria and on the enormous opportunities that lie ahead for both of our countries. Adapting the Honourable Minister of Finance’s words: the red carpet was good, but it was not the achievement. The way in which our countries work together and provide value to our economies is an achievement.

As we look to the future, I am confident that the UK-Nigeria relationship will continue to deepen, delivering meaningful benefits for our people and supporting our shared ambition for stability, prosperity, and sustainable growth.

This is a partnership built not just on history but on possibility. And its best chapters are still ahead.

Mr Jonny Baxter; British Deputy High Commissioner, Lagos