UK-Nigeria Trade Reaches £7.2 Billion, Highlights Strong Bilateral Ties

Oluwafisayo Olaoye
2 Min Read

The United Kingdom has reaffirmed Nigeria’s strategic role in its international trade network, with total trade between the two nations now valued at £7.2 billion. This milestone positions Nigeria as the UK’s second-largest trading partner in Africa and its top export destination on the continent.

British High Commissioner to Nigeria, Richard Montgomery CMG, shared this update during a media briefing on UK-Nigeria economic relations held in Abuja. He emphasized that the robust trade relationship forms a vital component of the broader bilateral partnership between both countries.

Addressing recent developments on UK immigration policy, Montgomery acknowledged the valuable contributions of foreign healthcare professionals, including many from Nigeria. However, he noted that a significant surge in migration—around 2.6 million entries recorded over a six-month period—has raised concerns about economic sustainability and public service capacity.

Montgomery also pointed out that Nigerians represent roughly 10% of annual visitors to the UK. He emphasized that while the UK remains open to genuine travelers and investors, concerns about fraudulent visa applications have led to increased scrutiny. He advised applicants to ensure the accuracy and completeness of supporting documents to avoid rejections.

On Nigeria’s economic outlook, the High Commissioner expressed optimism, praising President Bola Tinubu’s reform efforts aimed at improving investor confidence and business accessibility. However, he also voiced concern about the country’s security situation, describing it as a critical challenge.

Montgomery attributed some of the insecurity to regional instability, particularly from conflicts in Sudan and Niger. He revealed that the UK is working closely with Nigeria’s Office of the National Security Adviser and investing in security initiatives to support stabilization efforts.

The envoy concluded by reaffirming the UK’s commitment to fostering economic growth and mutual prosperity with Nigeria while encouraging transparent and lawful immigration processes.

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