Nigerian and UK businesses are ramping up investments and expanding operations across both countries, with hundreds of new jobs expected as economic ties deepen ahead of President Bola Ahmed Tinubu’s state visit to London.
Major Nigerian banks, fintech firms, and creative industry players are scaling up their presence in the UK, committing millions of pounds in new investments. The expansion underscores Britain’s appeal as a global business hub, while also highlighting Nigeria’s growing influence as a source of innovation and capital.
At the same time, British multinational 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.
President Tinubu, accompanied by First Lady Oluremi Tinubu, is scheduled to begin the historic visit on March 18, aimed at strengthening trade, investment, and cultural ties between both nations.
The UK government says its Trade and Industrial Strategies, alongside the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), are driving investment into key sectors such as finance, technology, education, and advanced manufacturing.
At a high-level ETIP reception held at Kensington Palace, attended by top government officials and industry leaders, UK officials reaffirmed their commitment to deepening bilateral relations.
UK Business and Trade Secretary Peter Kyle noted that both countries share a commitment to enterprise and innovation, adding that the new investments are already delivering jobs and economic benefits.
Deputy Prime Minister David Lammy also emphasized that the UK-Nigeria partnership is creating opportunities, removing barriers, and accelerating growth for businesses and innovators in both countries.
On the corporate front, Zenith Bank has opened a new branch in Manchester, expected to create about 30 jobs, while also exploring a potential London Stock Exchange listing by 2027.
Fidelity Bank has rebranded Union Bank UK as FidBank UK and plans to expand its workforce and capital base, positioning London as its global hub. Similarly, FCMB has launched its digital cross-border payments platform in the UK to facilitate trade between Africa and global markets.
Nigerian fintech firms are also making bold moves. LemFi plans to invest £100 million over five years after choosing London as its global headquarters. Moniepoint aims to grow its UK team to 100 employees by 2026, while Kuda Bank is expanding its UK operations as part of its global growth strategy.
In the creative sector, EbonyLife is set to launch EbonyLife Place London, creating up to 40 jobs and boosting African storytelling on the global stage.
Additionally, new initiatives such as the SCALE Creative Entrepreneur Programme and a forthcoming UK-Nigeria Advertising Summit are expected to strengthen collaboration, support talent exchange, and further integrate both countries’ creative economies.
Overall, the wave of investments signals a strengthening economic partnership between Nigeria and the UK, with tangible benefits expected in job creation, innovation, and long-term growth.
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