The British High Commission in Nigeria says hundreds of new jobs are set to be created in the United Kingdom and Nigeria following fresh multi-million-pound investments by leading firms, as economic ties between both countries deepen ahead of President Bola Ahmed Tinubu’s state visit to Britain.
The investments cut across banking, fintech, manufacturing and the creative industries, with Nigerian companies such as LemFi, Kuda, Moniepoint and Fidelity Bank expanding their footprint in the UK, while British firms increase their presence in Nigeria.
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At the same time, UK-based Twinings Ovaltine has launched a £24 million manufacturing facility in Lagos, its first in Africa, expected to generate more than 100 direct jobs and expand exports across West Africa.
In a statement by the British High Commission in Nigeria, the Senior Press & Public Affairs Officer, Ndidiamaka Eze, also disclosed that the flurry of investment comes as President Tinubu, accompanied by First Lady Oluremi Tinubu, prepares to begin a state visit to the UK on Wednesday, aimed at strengthening bilateral trade and investment relations.
Officials say the momentum is being driven by policy frameworks, including the UK–Nigeria Enhanced Trade and Investment Partnership, which targets growth in sectors such as financial services, technology, education and advanced manufacturing.
The UK Business and Trade Secretary Peter Kyle said the latest commitments demonstrate the strength of the partnership between both countries.
“The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives, and today’s commitments show exactly that. With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries.”
Also speaking, the Deputy Prime Minister David Lammy noted that the strategic relationship is helping to reduce barriers to trade while opening pathways for innovation and economic expansion.
“The UK and Nigeria’s 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. Growth is the core mission of this government, and it underpins our relationship with Nigeria. I am deeply proud that the cultural and commercial bonds between our nations are thriving and that both our businesses and people are feeling the benefits of that.” He stated.
Nigeria’s banking sector is playing a central role in the expansion, with Fidelity Bank rebranding its UK subsidiary and planning to double its workforce by 2026, while First City Monument Bank has selected the UK as the first international base for its cross-border digital payments platform. In total, seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs.
In a major boost to the UK’s northwest economy, Zenith Bank opened a new branch in Manchester, with plans to create up to 30 direct jobs. The bank is also considering a future listing on the London Stock Exchange as part of efforts to deepen its presence in the UK market.
Speaking, the Group Managing Director/CEO, Zenith Bank PLC, Dame Dr. Adaora Umeoji said:
“The United Kingdom remains a key global financial centre. The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”
Fintech investment is also accelerating, with LemFi committing £100 million over five years as it establishes London as its global headquarters. Moniepoint plans to expand its London workforce to 100 employees by 2026, while Kuda is set to double its UK operations over the same period.
In the creative sector, EbonyLife is set to launch EbonyLife Place London, creating up to 40 jobs and strengthening cultural links between both countries.
Additional initiatives include a planned UK-Nigeria advertising summit, talent exchange programmes, and a joint Season of Culture scheduled for 2028.
According to the statement, further collaboration is also underway in education and technology.
“The British Council is partnering Nigerian institutions to support creative entrepreneurs, while UK universities are expanding academic programmes in Nigeria in areas such as artificial intelligence, data science and global health.”
Meanwhile, Wise is expected to secure its first Nigerian licence, allowing it to tap into the country’s growing remittance market.
The Nigeria Sovereign Investment Authority has also entered into an agreement with Asset Green Ltd to explore a large-scale dairy project aimed at strengthening local production and reducing import dependence.
Analysts say the wave of investments underscores Nigeria’s growing role as a source of capital and innovation, while reinforcing the UK’s position as a global hub for international business.