Hundreds of new jobs are set to be created across the United Kingdom as Nigerian banks, fintech companies, and creative industry firms expand their operations, in a move expected to inject millions into the UK economy.
The UK Department for Business and Trade said the surge in investments comes ahead of the planned state visit of President Bola Ahmed Tinubu and First Lady Oluremi Tinubu, aimed at strengthening economic and diplomatic ties between both countries.
The expansion is being driven under the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), a framework designed to boost bilateral trade across key sectors such as financial services, technology, education, and manufacturing.
Speaking at an ETIP reception in London, UK Business and Trade Secretary Peter Kyle said the commitments highlight the mutual benefits of the partnership.
“The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives,” he said, noting that Nigerian firms are creating jobs in the UK while British companies expand into Nigeria’s growing market.
Among the major developments, Zenith Bank has opened a new branch in Manchester, expected to create up to 30 jobs, while also considering a potential listing on the London Stock Exchange by 2027. Other lenders, including Fidelity Bank and First City Monument Bank, are also expanding their UK presence, with FCMB launching a digital cross-border payments platform from the UK.
In total, seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs.
The fintech sector is also seeing rapid growth. LemFi plans to invest £100 million over five years as it establishes London as its global headquarters, while Moniepoint aims to grow its UK workforce to 100 employees by 2026. Kuda Bank is also strengthening its UK operations as part of its international expansion.
Nigeria’s creative industry is contributing to the investment wave, with EbonyLife set to launch EbonyLife Place London, a project expected to create up to 40 jobs and promote African storytelling in the UK.
British firms are also expanding into Nigeria. Ovaltine, owned by Twinings, is establishing a £24 million manufacturing facility in Lagos, projected to create over 100 jobs. Meanwhile, fintech company Wise is entering Nigeria’s remittance market following regulatory approval.
In the education sector, partnerships are deepening. University of Birmingham has signed agreements with University of Lagos, while London School of Economics is collaborating with Nile University on a data science initiative. Additionally, Wellington College International Lagos is set to open in 2027, with capacity for up to 1,500 students.
Analysts say the growing wave of cross-border investments reflects stronger economic alignment between Nigeria and the UK, with both countries leveraging trade, technology, and education partnerships to drive long-term growth and innovation.
