Nigeria and the United Kingdom have reached a historic milestone in bilateral trade, with the total value surging to an unprecedented £7.9 billion, equivalent to about N16 trillion. The British High Commissioner to Nigeria, Richard Montgomery, confirmed the figures on Wednesday in Abuja, describing the development as the strongest sign yet of deepening economic cooperation between the two nations.
Montgomery credited the success to the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), which has dismantled several non-tariff barriers while opening new doors for collaboration across critical sectors. He noted that the framework, strengthened further by the Developing Countries Trading Scheme (DCTS), has positioned Nigeria as a key trading partner for Britain on the African continent.
“I’m very pleased with our latest trade figures. The £7.9 billion, or N16 trillion, represents the highest trade level ever between the UK and Nigeria, indicating a positive trend. The ETIP is exciting because it focuses on mutually agreed sectors and issues that both the UK and Nigerian governments will address, under the guidance of our respective ministers,” Montgomery stated.
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The envoy highlighted Britain’s expertise in financial services, fintech, artificial intelligence, and digital platforms as areas of growing influence in Nigeria’s evolving economy. He also pointed to the UK’s competitive edge in the creative industries, renewable energy, and manufacturing, while underlining Britain’s expanding footprint in agriculture and higher education investment.
According to Montgomery, the ETIP is not a one-sided deal but a mutually negotiated pact aimed at driving growth, creating jobs, and ensuring long-term benefits for both countries. He stressed that the partnership is already encouraging new investments while providing Nigerian exporters with favorable trading conditions and tariff reductions that will expand market access in the UK.
With Nigeria battling economic challenges and foreign exchange pressures, the record-breaking trade value offers a rare boost, signaling the potential of international partnerships to reshape the country’s growth path. Analysts say the £7.9 billion figure could climb even higher as both countries intensify efforts to unlock opportunities in technology, energy, agriculture, and the creative economy.
