The UK government on Monday highlighted a wave of job creation driven by Nigerian companies expanding operations in Britain, as President Bola Tinubu began a state visit aimed at strengthening economic ties.
Officials said hundreds of new jobs will be created across the UK as Nigerian banks, fintech firms and creative industry players scale up investments, reinforcing Britain’s position as a global business hub.
The announcement comes amid growing trade relations between both countries, with bilateral trade now estimated at £8.1 billion annually.
“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,” said Business and Trade Secretary Peter Kyle.
Deputy Prime Minister David Lammy said the partnership was “bringing momentum and opportunity to innovators in both our countries,” adding that it is “reducing barriers, creating jobs and opening new pathways for growth.”
A number of Nigerian financial institutions and startups are leading the expansion:
- Zenith Bank is opening a new branch in Manchester, expected to create up to 30 jobs and boost economic activity in northern England.
- Fidelity Bank plans to double its UK workforce from 62 employees by 2026.
- First City Monument Bank (FCMB) is launching its digital cross-border payments platform in the UK.
- Seven Nigerian banks now operate in Britain, supporting about 1,000 jobs.
Zenith Bank’s chief executive Adaora Umeoji said the UK remains “a key global financial centre,” adding that the expansion will help “connect businesses between Africa and the UK more effectively.”
Fintechs scale global ambitions
Nigerian fintech firms are also accelerating investments:
- LemFi plans to invest £100 million over five years, designating London as its global headquarters.
- Moniepoint aims to grow its London team to 100 employees by 2026.
- Kuda is expanding its UK base as a hub for international growth.
Creative and education links deepen
The expansion extends beyond finance into creative industries and education:
- EbonyLife will launch a London hub, creating up to 40 jobs.
- A UK-Nigeria advertising partnership and talent exchange programme is planned.
- Joint cultural initiatives, including a UK-Nigeria Season of Culture in 2028, are in development.
Universities are also expanding collaboration:
- University of Birmingham and University of Lagos will offer programmes in AI and digital communications.
- London School of Economics is partnering on data science training in Nigeria.
UK firms expand into Nigeria
British companies are also increasing investments in Nigeria:
- Twinings Ovaltine is launching a £24 million manufacturing facility in Lagos.
- Wise is set to expand into Nigeria’s remittance market pending regulatory approval.
The UK said the developments reflect growing momentum under its trade and industrial strategy, as well as agreements under the UK–Nigeria Enhanced Trade and Investment Partnership.
With Nigerian firms creating jobs in Britain and UK companies expanding into Africa’s largest economy, officials say the relationship is becoming a key pillar of growth for both countries.
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