Hundreds of jobs, millions in investment as UK-Nigeria partnership deepens ahead Tinubu state visit

NIGERIAN companies are set to create hundreds of new jobs in the UK as major investments are confirmed under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), ahead of President Bola Ahmed Tinubu’s historic state visit to the United Kingdom tomorrow, March 18.

Banks, fintech firms, and creative industry businesses are scaling up operations across the UK, injecting millions of pounds into the economy and highlighting Nigeria’s growing role as a global hub for innovation and trade, according to a statement by the British High Commission Abuja.

Major financial moves

Zenith Bank opened a new branch in Manchester today, expected to create up to 30 direct jobs in the Northwest. The bank is also exploring a 2027 listing on the London Stock Exchange to expand its UK market presence. Fidelity Bank has rebranded Union Bank UK into FidBank UK, planning to double its 62-person workforce by 2026, while FCMB will launch its first international cross-border digital payments platform from the UK, the commission said.

Seven Nigerian banks now operate in the UK, supporting more than 1,000 jobs, with additional fintech investments on the horizon. LemFi will invest £100 million over five years, establishing London as its global headquarters.

Moniepoint plans a 100-person team in London by 2026, supporting millions of African users. Kuda Bank is expanding its UK headquarters to serve as a base for global growth.

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Creative, manufacturing expansion

The UK’s creative sector will benefit from Nigerian investment, with EbonyLife launching EbonyLife Place London, creating 40 new jobs. Twinings Ovaltine has opened a £24 million manufacturing facility in Lagos, its first in Africa, generating over 100 direct jobs and boosting exports across West Africa.

Cultural and creative ties will also deepen through the UK/Nigeria Season of Culture in 2028, the SCALE Creative Entrepreneur Award Programme, and strategic partnerships between UK and Nigerian advertising sectors, the British High Commission Abuja noted.

Education and innovation

Leading UK universities are expanding into Nigeria, including new partnerships between the University of Birmingham and University of Lagos for Applied AI, Digital Communications, and Global Surgery programmes. The London School of Economics has partnered with Nile University on Data Science initiatives, and Wellington College International Lagos is set to open in 2027 for 1,500 students.

Government endorsements

Business and Trade Secretary Peter Kyle stated: “The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives. Nigerian firms creating jobs in the UK, and British businesses expanding into Nigeria, are delivering real benefits for both countries.”

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Deputy Prime Minister David Lammy added: “Our Strategic Partnership is bringing momentum and opportunity to innovators in both our countries. We are reducing barriers, creating jobs, and opening new pathways for growth.”

Strengthened bilateral trade

Bilateral trade between the UK and Nigeria now stands at an all-time high of £8.1 billion per year. The ETIP agreements, finalised during ministerial discussions in London yesterday, are expected to unlock further growth across financial services, technology, education, advanced manufacturing, and creative industries.

The developments coincide with President Tinubu and First Lady Oluremi Tinubu’s state visit to the UK, which will further cement commercial and cultural ties between the two nations.