Nigerian Banks, Fintechs, Creative Firms To Inject Millions, Create Hundreds Of Jobs In Britain –UK Trade Department
Nigerian Banks, Fintechs, Creative Firms To Inject Millions, Create Hundreds Of Jobs In Britain –UK Trade Department
UK Business and Trade Secretary Peter Kyle said the new commitments underscore the mutual benefits of the partnership.
Hundreds of new jobs are set to be created across the United Kingdom as Nigerian banks, fintech firms and creative industry businesses expand their operations, in a development expected to inject millions into the UK economy.
According to the UK Department for Business and Trade, the investment drive comes ahead of the planned state visit of President Bola Ahmed Tinubu and First Lady Oluremi Tinubu to the UK, aimed at strengthening economic and diplomatic ties between both countries.
According to Gov.UK, the expansion is backed by the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), which has been positioned as a key framework for boosting bilateral trade across sectors including financial services, technology, education and manufacturing.
At an ETIP reception held at Kensington Palace, attended by senior government officials and industry leaders, UK authorities highlighted Nigeria’s growing role as a major source of investment and innovation.
UK Business and Trade Secretary Peter Kyle said the new commitments underscore the mutual benefits of the partnership.
“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,” Kyle said.
“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.”
UK Deputy Prime Minister David Lammy also emphasised the importance of the relationship, stating that the partnership is “bringing momentum and opportunity to innovators in both our countries.”
“We are reducing barriers, creating jobs and opening new pathways for growth,” Lammy said, adding that economic growth remains central to the UK government’s agenda.
Among the major developments, Zenith Bank has opened a new branch in Manchester, with the capacity to create up to 30 direct jobs, while also exploring a potential listing on the London Stock Exchange by 2027.
Other Nigerian financial institutions are also scaling operations. Fidelity Bank plans to double its UK workforce, while First City Monument Bank (FCMB) has selected the UK as the first international base for its digital cross-border payments platform.
In total, seven Nigerian banks are now operating in the UK, supporting at least 1,000 jobs.
The fintech sector is also witnessing significant expansion. LemFi is set to invest £100 million over five years as it establishes London as its global headquarters, while Moniepoint plans to grow its UK workforce to 100 employees by 2026.
Similarly, Kuda Bank is strengthening its UK operations as part of its global expansion strategy.
Nigeria’s creative industry is also contributing to the investment wave. EbonyLife is set to launch EbonyLife Place London, a move expected to create up to 40 jobs and expand African storytelling in the UK.
The initiative will be complemented by programmes such as the SCALE Creative Entrepreneur Award, backed by the British Council, and a planned UK–Nigeria Advertising Summit aimed at strengthening collaboration in the creative sector.
In addition, both countries are planning a UK/Nigeria Season of Culture in 2028 to deepen cultural ties.
British companies are also increasing their footprint in Nigeria. Ovaltine, owned by Twinings, is launching a £24 million manufacturing facility in Lagos, expected to create over 100 jobs.
Fintech firm Wise is also set to expand into Nigeria’s remittance market following regulatory approval.
In the education sector, leading UK institutions are strengthening partnerships with Nigerian counterparts. The University of Birmingham has signed agreements with the University of Lagos, while the London School of Economics has launched a data science partnership with Nile University.
Meanwhile, Wellington College International Lagos is expected to open in 2027, offering education to up to 1,500 students.
Analysts say the surge in cross-border investments reflects a growing economic alignment between Nigeria and the UK, with both countries leveraging trade, technology and education partnerships to drive long-term growth.
The developments are expected to further solidify the UK’s position as a global hub for African business while enhancing Nigeria’s influence in international markets.
