Trade between the United Kingdom and Nigeria has reached an unprecedented £7.9 billion (₦16 trillion), Britain’s High Commissioner to Nigeria, Richard Montgomery, has announced.
In an interview in Abuja, Montgomery credited the surge to the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), which is designed to deepen bilateral trade by tackling non-tariff barriers and aligning priority sectors for cooperation.
“The ETIP is exciting because it’s a mutually agreed framework,” he said. “It identifies areas where the UK has comparative advantage and where Nigeria seeks to expand economic opportunities.”
Montgomery said Britain was particularly competitive in financial services, technology, artificial intelligence and fintech, while also offering expertise in creative industries, advanced energy solutions and manufacturing. He added that the UK was stepping up investment in Nigerian higher education and agriculture, sectors he said had “huge potential” to boost exports.
He emphasised that the Developing Countries Trading Scheme (DCTS), which complements ETIP, would further enhance Nigeria’s access to UK markets through tariff reductions.
“The aim is mutual growth — creating jobs in both our countries,” Montgomery said. “That’s why ETIP is so important: it is not imposed but negotiated, and it reflects our shared interests.”
