Trade between the United Kingdom and Nigeria has surged to an all-time high of £7.9 billion (₦16 trillion), according to British High Commissioner Richard Montgomery.
In an interview with the News Agency of Nigeria in Abuja on Wednesday, Montgomery described the milestone as a “very positive trajectory” for both economies. He credited the growth to the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), a framework designed to eliminate non-tariff barriers, expand market access, and stimulate investment in priority sectors.
“The £7.9 billion trade figure is the highest it has ever been between our two nations,” Montgomery said. “ETIP is exciting because it’s a mutually agreed plan that aligns UK strengths with Nigeria’s growth ambitions.”
Key Sectors Driving Growth
Montgomery highlighted areas where the UK holds a competitive edge and Nigeria seeks expansion, including:
Financial Services & FinTech – leveraging London’s global finance hub.
Technology & AI – advancing digital platforms and innovation.
Creative Industries & Advanced Manufacturing – building Nigeria’s entertainment and industrial capacity.
Energy Solutions & Agriculture – supporting renewable energy and boosting Nigeria’s export potential.
Higher Education – increasing UK investments in Nigerian universities and training programs.
Mutual Benefits
The High Commissioner emphasized that ETIP is “mutually agreed and negotiated”, aiming to create jobs and spur economic growth in both countries. “It’s about unlocking more investment and ensuring that opportunities benefit businesses and citizens in the UK and Nigeria alike,” he added.
The partnership also ties into the UK’s Developing Countries Trading Scheme, which offers generous trade terms and tariff reductions on Nigerian products, further strengthening bilateral ties.
