UK government has signed Enhanced Trade and Investment Partnership (ETIP) With Nigeria to boost trade and investment between the two countries and unlock new opportunities for UK and Nigerian businesses. The signing which is the first the UK has signed with an African country and is designed to grow the UK and Nigeria’s already thriving trading relationship, which totalled £7 billion in the year to September 2023. Secretary of State Kemi Badenoch signed the ETIP alongside her Nigerian counterpart Nigerian Trade Minister Doris Nkiruka Uzoka-Anite made this known today in Abuja.
This arrangement will pave the way for opportunities in sectors crucial to both economies such as finance and legal services as well as foster new collaborations in innovative areas like the creatives industry. The visit by the Secretary of State comes a week ahead of a UK Government-led fashion and beauty trade delegation to Nigeria. Secretary of State for Business and Trade in Abuja sign first-of-its-kind trade and investment partnership with Nigeria. Partnership will build on the already £7 billion strong UK-Nigeria trading relationship and unlock new opportunities in sectors such as legal, financial services and clean energy.
Nigeria is an important growth market for the UK-based financial and related professional services industry TheCityUK welcomes the MoU signing and look forward to continuing engagement to increase market access and remove regulatory frictions Visit comes as UK energy firm Konexa sign deal to supply Nigerian Breweries PLC with 100% renewable power
