Economy: Hundreds of new jobs as UK, Nigerian businesses invest in millions, scale operations –Official

*The British High Commission in Nigeria affirms seven banks from the country currently operate in the UK, supporting total 1,000 jobs besides creative industry businesses that are scaling operations with UK-Nigeria bilateral trade hitting all-time high of £8.1 billion a year

Gbenga Kayode | ConsumerConnect

Nigerian companies, including LemFi, Kuda, Moniepoint and Fidelity Bank, are expanding UK operations.

It is noted that the development indicates a major boost to Northwest economy, just as Zenith Bank Plc opens new Manchester branch in the foreign country.

Twinings Ovaltine opens £24 million Lagos manufacturing facility, as President Bola Ahmed Tinubu, GCFR, heads for the UK for a historic State Visit this week.

2026 WCRD: Telecoms consumers urge Nigerian Government to strengthen data privacy, safety standards

Hundreds of new jobs are set to be created as Nigerian banks, Financial Technology (FinTech) innovators, and creative industry businesses scale their operations in Britain.

Ndidiamaka Eze, Senior Press and Public Affairs Officer at the British High Commission (BHC) and Communications Lead at Growth, Trade and Investment (GTI) Nigeria Network, who noted this in a statement Tuesday, March 17, 2026, said the move would see millions invested, reinforcing the UK’s position as a leading global business hub.

The statement also noted this is backed by world‑class talents, strong access to capital, and a stable regulatory environment – while showcasing Nigeria’s expanding role as a key source of innovation and investment into the UK, growing both economies.

It stated UK’s Twinings Ovaltine had launched a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa.

The development is coming as Nigerian President Tinubu, accompanied by First Lady (Senator) Oluremi Tinubu, are set to commence an historic State Visit Wednesday, March 18, strengthening the UK’s position as a global hub for African businesses.

On UK-Nigeria Enhanced Trade and Investment Partnership

The statement further noted: “Thanks to the UK’s Trade and Industrial Strategies – combined with commitments made through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – the government is attracting investment into key growth sectors including financial services, technology, education and advanced manufacturing.”

The BHC said the Deputy Prime Minister held an ETIP reception Monday, March 16 at Kensington Palace, bringing together 180 senior representatives from government and industry to celebrate the breadth, depth, and continued growth of “our trade relationship across priority sectors, including financial services, education, creative industries, infrastructure and technology.”

The UK’s Trade Envoy to Nigeria, Florence Eshalomi, also addressed the group.

The British Mission quoted Business and Trade Secretary Peter Kyle to have said: “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.

“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 and delivering real benefits for people in both countries.”

Likewise, Deputy Prime Minister David Lammy stated: “The UK and Nigeria’s Strategic Partnership is bringing momentum and opportunity to innovators in both our countries.

“We are reducing barriers, creating jobs and opening new pathways for growth. Growth is the core mission of this government, and it underpins our relationship with Nigeria.

“I am deeply proud that the cultural and commercial bonds between our nations are thriving and that both our businesses and people are feeling the benefits of that.”

Zenith Bank opens Manchester Branch in UK

Zenith Bank, one of Nigeria’s largest financial institutions, opened its Manchester Branch Tuesday, March 17 with the capacity to create up to 30 new direct jobs in a boost for the Northwest economy.

The UK Mission disclosed the commercial bank is also exploring a 2027 London Stock Exchange (LSE) listing to deepen its UK market presence and unlock long-term funding for UK-Africa growth.

Similarly, Fidelity Bank’s acquisition and rebrand of Union Bank UK into FidBank UK with plans to double its 62‑person workforce in 2026, and add new capital, while the Fidelity Group makes London its global hub.

The statement further explained that FCMB had also selected the UK as the first international destination for its digital cross border payments platform, boosting trade and investment flows between Africa and the rest of the world.

“Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total,” the statement noted.

Speaking on the bank’s new branch, Dame Dr. Adaora Umeoji, OON, Group Managing Director/CEO of Zenith Bank Plc said: “The United Kingdom remains a key global financial centre.

“The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”

According to BHC, Nigerian FinTech investment is also accelerating rapidly.

It said LemFi would invest £100 million over the next five years as it designates London its global headquarters.

It also indicated that Moniepoint plans to grow its London-based team to 100 employees 2026, by building the infrastructure that supports millions of African users worldwide.

Kuda Bank is strengthening its UK headquarters as the base for global expansion and plans to double its UK footprint this year.

The UK’s reputation as a global creative capital also continues to deepen ties through: EbonyLife, one of Nigeria’s leading creative industry brands, will launch EbonyLife Place London, creating up to 40 new jobs and strengthening the UK’s role as a home for African storytelling and creative talent, noted the statement.

The SCALE Creative Entrepreneur Award Programme, developed by the British Council and supported by the Department for Business and Trade, will support young Nigerian and UK creative entrepreneurs to grow internationally and build lasting ties to benefit both the UK and Nigerian creative economies.’

The UK Advertising Exports Group will announce a strategic partnership with the Nigerian advertising sector.

It explained this would include a UK-Nigeria Advertising Summit taking place later this year, and a talent exchange scheme which would deepen bilateral engagement.

The British Council and the Federal Ministry of Art, Culture, Tourism and Creative Economy in Nigeria, will deliver the UK/Nigeria Season of Culture in 2028, involving a range of innovative initiatives and events designed by UK and Nigeria creative organisations.

A Creative Industries Roundtable at Lancaster House will bring together alumni, Chevening scholars and creative leaders from both countries.

Aside from these, the BHC said the following British businesses are also set to benefit thanks to: Twining’s Ovaltine launching a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa.

British FinTech Wise will receive approval for its first Nigerian licence, enabling it to expand in a remittances market, valued at up to £39.9 million.

In view of this, the UK Mission affirmed the Nigeria Sovereign Investment Authority (NSIA), had signed an agreement with Asset Green Ltd to explore a large-scale integrated dairy project that would strengthen Nigeria’s dairy value chain, reduce reliance on imports and improve nutrition.

Leading UK universities are also expanding into Nigeria, helping train the next generation of Nigerian and British scientists, technologists and innovators.

Nigeria is a key education partner and a priority country for the UK’s International Education Strategy, the statement noted.

The University of Birmingham and the University of Lagos (UNILAG) have also signed a new agreement to deliver programmes in Applied AI, Digital Communications and Global Surgery.

The LSE has launched a new Data Science partnership with Nile University of Nigeria alongside the University of the West of England opening a dedicated office in Lagos.

Wellington College International Lagos will open in 2027, offering places for 1,500 students – becoming one of West Africa’s flagship British curriculum schools, it stated.

EStars, a UK‑owned educational esports and technology company, will partner with the Lagos State Ministry of Basic and Secondary Education to deliver esports‑based digital learning programmes to around three million students.

With bilateral trade now at an all-time high of £8.1 billion a year, the UK and Nigeria are showing how countries grow faster when they grow together, the Senior Press and Public Affairs Officer added.

Kindly Share This Story