With a diaspora population of about 200,000, the report said the African nation is one of Britain\u2019s largest foreign-born groups, and that is without counting those with strong hereditary connections to the country.<\/p>\n\n\n\n
According to the latest data published by the UK Department for Business and Trade in February 2026, total trade in goods and services (exports plus imports) between the UK and Nigeria stood at \u00a38.1 billion in the four quarters to the end of Q3 2025.<\/p>\n\n\n\n
Of this \u00a38.1 billion, total UK exports to Nigeria amounted to \u00a35.7 billion, while total UK imports from Nigeria amounted to \u00a32.4 billion over the same period.<\/p>\n\n\n\n
\u201cNigeria was the UK\u2019s 36th largest trading partner in the four quarters to the end of Q3 2025, accounting for 0.4% of total UK trade. At the end of 2024, the stock of FDI from Nigeria in the UK was \u00a3492 million,\u201d the report, sighted by our reporter, stated.<\/p>\n\n\n\n
The Ceremonies<\/h3>\n\n\n\n
While in the UK, King Charles hosted President Tinubu and his wife, Oluremi Tinubu, at Windsor Castle. The couple was later invited to view a special exhibition of items from the Royal Collection related to Nigeria. The King and the President also held private discussions.<\/p>\n\n\n\n
He further met with organisations engaged in interfaith dialogue, both nationally and internationally.<\/p>\n\n\n\n
The Royal Family also hosted a state banquet in honour of the Nigerian guests in the evening.<\/p>\n\n\n\n
According to a State House press release issued by Onanuga and published on the government\u2019s website, Tinubu described his state visit to the UK as \u201cvery thrilling and significant\u201d in strengthening bilateral relations between the two nations.<\/p>\n\n\n\n
\u201cWe cannot forget the institutional development we have enjoyed over the years,\u201d the Nigerian leader said at Downing Street ahead of bilateral talks.<\/p>\n\n\n\n
Prime Minister Keir Starmer, in his remarks, reaffirmed the UK\u2019s appreciation of its enduring relationship with Nigeria.<\/p>\n\n\n\n
He noted that both countries already maintain strong collaboration in areas such as the economy, defence, and security, and said the newly reached agreements on exports and business exchanges reflected a shared determination to deepen cooperation and broaden engagement on global issues.<\/p>\n\n\n\n
The \u00a3746 million port deal<\/h3>\n\n\n\n
Tinubu held a bilateral meeting with Starmer at 10 Downing Street on the second day, where the two countries agreed on a deal to refurbish two major ports in Lagos worth \u00a3746 million.<\/p>\n\n\n\n
At Lancaster House, Tinubu, together with his wife Oluremi, witnessed the \u00a3746 million agreement for the modernisation of infrastructure at the Apapa and Tin Can Island ports in Lagos. This is the major confirmed agreement premised on the visit.<\/p>\n\n\n\n
The agreement was signed on behalf of Nigeria by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Parliamentary Under-Secretary of State and UK Minister for Small Business and Economic Transformation, Blair McDougall MP, on behalf of the British government.<\/p>\n\n\n\n
Supported by UK Export Finance (UKEF), the deal is expected to fund the comprehensive upgrade of the nation\u2019s two busiest ports, which together handle more than 70 per cent of Nigeria\u2019s imports and exports.<\/p>\n\n\n\n
Local media, Vanguard Newspapers<\/em>, reported that the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, described the arrangement as a transformative milestone for Nigeria\u2019s port system.<\/p>\n\n\n\n \u201cApapa Port and Tin Can Island Port have long borne the weight of our national trade, yet their infrastructure has lagged behind modern global shipping. This is not merely an upgrade but a full-scale transformation to align our ports with international best practices.<\/p>\n\n\n\n \u201cModern infrastructure, supported by digitalised and automated systems, will enhance efficiency, transparency, and operational reliability. Our goal is to build a port system that is modern, competitive, and capable of serving as a strategic maritime hub for West and Central Africa,\u201d he said.<\/p>\n\n\n\n However, implementing the deal brings into question the capacity of Nigeria to deliver its side of the agreement, which ultimately determines the sustainability of the deal.<\/p>\n\n\n\n The UK said the deal will deliver significant benefits for British businesses, with at least \u00a3236 million of supplier contracts directed to British companies.<\/p>\n\n\n\n British Steel will supply 120,000 tonnes of steel billets to construction companies Hitech Nigeria and ITB Nigeria for the ports deal, amounting to a \u00a370 million contract. It is the largest export order backed by UKEF.<\/p>\n\n\n\n Comprehensive upgrades are indeed necessary at Nigeria\u2019s main seaports, which have been impacted by years of underinvestment and deterioration.<\/p>\n\n\n\n Improving the ports\u2019 infrastructure will reduce logistics costs and boost government revenue. Introducing digital systems and increasing handling capacity will also reduce vessel waiting time and how long cargoes stay at the ports.<\/p>\n\n\n\n But since the fund is a loan from the UK\u2019s Citibank, a PUNCH Editorial puts it that Nigeria is typically borrowing to stimulate another country\u2019s industrial base. This is made stark by the \u201crecord\u201d \u00a370 million contract to supply 120,000 tonnes of steel awarded to British Steel, a struggling firm owned by China\u2019s Jingye Group and supported by UK industrial policy to preserve 4,000 jobs at its plant in Scunthorpe.<\/p>\n\n\n\n The editorial highlights further that Nigeria, a country with over 3 billion metric tonnes of iron ore deposits and a moribund steel sector exemplified by the dormant Ajaokuta Steel Company, is effectively borrowing money to import steel to rebuild its own infrastructure, while its domestic capacity, at 2 million MT per annum, remains terribly inadequate, accounting for only 28 per cent of consumption.<\/p>\n\n\n\n These concerns are aside from Nigeria\u2019s habitual styles of stalled projects, which can be largely blamed on poor institutional oversight and follow-ups.<\/p>\n\n\n\n Amid the conversation around the visit is the announcement that Nigerian fintech investment is accelerating, with LemFi expected to invest \u00a3100 million over the next five years as it designates London as its global headquarters.<\/p>\n\n\n\n Moniepoint also plans to grow its London-based team to 100 employees in 2026, while Kuda Bank strengthens its UK headquarters as the base for global expansion and plans to double its UK footprint in 2026. The fintech expansion signals reduced bottlenecks in cross-border transactions, which may significantly improve business collaboration between Nigeria and the UK.<\/p>\n\n\n\n The UK department also noted that EbonyLife, one of Nigeria\u2019s leading creative industry brands, would launch EbonyLife Place London, creating up to 40 new jobs. Twinings\u2019 Ovaltine is also launching a \u00a324 million manufacturing facility in Lagos\u2014its first in Africa\u2014expected to create over 100 direct jobs and boost the company\u2019s exports across West Africa. British fintech Wise has received conditional approval for its first Nigerian licence, which, once confirmed, will enable it to expand in a remittances market valued at up to \u00a339.9 million.<\/p>\n\n\n\n The UK believes that its \u201creputation as a global creative capital\u201d continues to deepen through the expansion of Nigerian firms in the country.<\/p>\n\n\n\n While they are mostly announcements, the developments are expected to advance financial inclusion for both countries. By enabling Wise, the UK-based global payments platform, to expand its presence in Nigeria, this will lower transfer costs and ensure that more diaspora income gets to Nigerian recipients.<\/p>\n\n\n\n As the finance minister, Wale Edun, puts it, Nigeria will not only be receiving capital, but it is also deploying it. The expansion of Nigerian banks into the United Kingdom, including Zenith Bank\u2019s growing footprint in Manchester, reflects Nigeria\u2019s increasingly confident and globally competitive position.<\/p>\n\n\n\n Moniepoint, the Nigerian fintech unicorn, also recently launched Monieworld, its remittance product that allows UK residents to send money directly from a Monieworld account, cards, a British bank account, or via Apple Pay and Google Pay to any Nigerian bank account.<\/p>\n\n\n\n The financial relations will definitely lead to easier access to finance for citizens of both countries.<\/p>\n\n\n\n As part of the visit, the Nigerian government announced that it was advancing plans to establish a Coventry University campus in Nigeria through a Transnational Education (TNE) partnership aimed at expanding access to globally recognised degrees.<\/p>\n\n\n\n The Minister of Education, Olatunji Alausa, made this known in a statement issued by the Director of Press and Public Relations, Boriowo Folasade, on March 18, 2026. Folasade noted that the minister was in the UK with Tinubu, where he engaged with university leadership, key investors, and development partners to drive the initiative forward.<\/p>\n\n\n\n The proposed campus, to be located in Alaro City, Lagos State, is expected to offer Bachelor\u2019s and Master\u2019s programmes in Science, Technology, Engineering, Mathematics and Medicine (STEMM), Business, and Technical and Vocational Education and Training (TVET).<\/p>\n\n\n\n \u201cAll degrees will be equivalent to those awarded in the United Kingdom. Admissions are expected to commence between the third and fourth quarters of 2026, subject to regulatory approvals,\u201d the statement said.<\/p>\n\n\n\n Unlike other agreements proudly announced by the UK government, this development is more of an MOU than an actual agreement that is expected to be implemented. Alausa already said in his statement that it is \u201csubject to regulatory approvals.\u201d<\/p>\n\n\n\n It is not certain if the dream is to curb the mass exodus of Nigerian students to the UK and other foreign countries. Foreign educational pursuits have been identified by some citizens as \u201can opportunity\u201d to leave the country\u2014a phenomenon widely known as \u201cjapa\u201d in Nigeria.<\/p>\n\n\n\n But the Minister of Education, while commenting on the development, said, \u201cWe want Nigerian parents to enjoy their children being at home while still receiving a world-class UK education.\u201d<\/p>\n\n\n\n Nigerian education standard in itself is not below standards, but inadequate funding has turned the ivory towers into a shadow of themselves.<\/p>\n\n\n\n A lawyer and comparative international education researcher in the United States, Jacob Sule, put the education deal in perspective.<\/p>\n\n\n\n In a terse message sent to Tribune libre de l'Afrique<\/em>, Sule said that without a policy framework, the MoUs become a standalone event disconnected from a broader strategy.<\/p>\n\n\n\n \u201cWe celebrate it for one week and move on. Countries that have used international partnerships effectively\u2014such as Malaysia, the United Arab Emirates, and South Korea\u2014did so because they had deliberate internationalisation strategies that clearly defined what foreign universities could and could not do. Nigeria deserves that same level of strategic clarity. A signature without a strategy is just paperwork,\u201d he said.<\/p>\n\n\n\n For Sule, Coventry University is what the British call a post-1992 university, meaning it was originally a polytechnic that was later upgraded.<\/p>\n\n\n\n \u201cToday, it ranks somewhere between 601\u2013800 according to the Times Higher Education rankings. It is not Oxford. It is not Cambridge. It is not even in the Russell Group. So, when the Nigerian government says \u2018globally recognised degrees,\u2019 Nigerians should ask questions about what that recognition means and where it applies. A Coventry degree and a University of Edinburgh degree do not open the same doors. Our government owes us that honesty,\u201d Sule said.<\/p>\n\n\n\n In a press release published on the UK government’s website, the Department for Business and Trade said hundreds of new UK jobs were set to be created as Nigerian companies scale up their operations.<\/p>\n\n\n\n Business and Trade Secretary Peter Kyle said, \u201cWith Nigerian firms creating jobs across the UK and British businesses expanding into one of the world\u2019s fastest-growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries.\u201d<\/p>\n\n\n\n Zenith Bank, one of Nigeria\u2019s largest financial institutions, opened its Manchester branch on March 17, 2026, with the capacity to create up to 30 new direct jobs in a boost for the UK\u2019s North West economy.<\/p>\n\n\n\n The bank is also exploring a 2027 London Stock Exchange listing to deepen its UK market presence and unlock long-term funding for UK\u2013Africa growth.<\/p>\n\n\n\n The department added that Fidbank plans to double its 62-person workforce in 2026 and add new capital, while the Fidelity Group makes London its global hub. FCMB was also said to have selected the UK as the first international destination for its digital cross-border payments platform. Seven Nigerian banks now operate in the UK altogether, supporting at least 1,000 jobs.<\/p>\n\n\n\n Kyle also described the port deal as \u201ca major win\u201d for British Steel, made possible by UK Export Finance, which is a testament to the quality of UK-made steel and the booming UK\u2013Nigeria relationship.<\/p>\n\n\n\n British Steel CEO Allan Bell highlighted the deal as a record-breaking contract and \u201ca major boost to our 4,000 employees and many more people in our supply chains.\u201d<\/p>\n\n\n\n Beyond an education degree in Nigeria, the country is expected to benefit from the upgraded ports in Lagos. It means cheaper goods for Nigerian households, as logistics costs will fall across the value chain, and it makes it easier for farmers and local manufacturers to move their products to market and to export competitively.<\/p>\n\n\n\n The partnership between both countries is expected to boost jobs and expand business operations between Africa\u2019s most populous country and the European nation.<\/p>\n\n\n\n Nigeria also brought new manufacturing capacity into the country through a \u00a324 million investment by Associated British Foods; the first of its kind in Africa; creating jobs, deepening local value chains, and strengthening \u201cMade in Nigeria\u201d on scale.<\/p>\n\n\n\n Analysts have questioned whether the MOUs signed by the Nigerian and UK governments will translate into tangible implementation and measurable outcomes.<\/p>\n\n\n\n Speaking on Channels TV, Professor of International Relations Jideofor Adibe said the outing was symbolic, but much still needed to be done.<\/p>\n\n\n\n Adibe said, \u201cIn terms of symbolism, you already have to give it to the President. It was a very symbolic moment for him. He\u2019s the second African president in history to have been invited to Windsor Castle.<\/p>\n\n\n\n \u201cBut beyond the symbolism, we also look at the real things. One of the achievements was the commitment of \u00a3746 million to renovate two ports in Lagos. But there is still a lot of work to be done.\u201d<\/p>\n\n\n\n The public affairs commentator added that signing an MoU carries little weight until actual implementation.<\/p>\n\n\n\n \u201cIt means nothing. It\u2019s just like you go to a trade fair\u2014you meet somebody who is potentially interested in what you\u2019re doing. Yes, you can sign an MoU, but that doesn\u2019t mean you are committing money. But we don\u2019t want to take away the significance that this is a very good diplomatic outing for the country.<\/p>\n\n\n\n \u201cIn the final analysis, it is the domestic audience that will determine success. The metrics for measuring the success of any regime will be internal,\u201d Prof Adibe added.<\/p>\n\n\n\n Influential African investor Aliko Dangote, while commenting on the trip during a visit to the President over the Sallah break, told journalists the visit would open many doors.<\/p>\n\n\n\n The Nigerian billionaire said, \u201cYou can see the agreement that was signed for improving our infrastructure, especially the ports and other areas. It\u2019s not that easy dealing with the British and getting this kind of money from them. They themselves are struggling. But I think this shows confidence. It\u2019s not about the money but about confidence in Nigeria. Once that happens, other countries will follow suit.\u201d<\/p>\n\n\n\n While Tinubu\u2019s visit to the UK appears more of a formality given the \u201cover-celebrated\u201d idea of its historical nature, there is no doubt that the visit is symbolic and offers an opportunity for Nigeria to capitalise on the deepening bilateral gains. From the expansion of Nigerian businesses in the UK and vice versa, to the deal to modernize Lagos ports, a very key international business arena, Nigeria appears set for an expanding transnational trade.<\/p>","protected":false},"excerpt":{"rendered":" President Bola Tinubu\u2019s state visit to the United Kingdom on March 18 and 19, 2026, at the invitation of the King of England, King Charles III, is the most recent major spotlight on an African nation on the international scene. From mobilising an entourage from Nigeria to arriving at a ceremonial welcome in the UK, […]<\/p>\n","protected":false},"author":18,"featured_media":6945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"saved_in_kubio":false,"footnotes":""},"categories":[19,30,28],"tags":[],"class_list":["post-6977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-governance","category-society"],"_links":{"self":[{"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/posts\/6977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/comments?post=6977"}],"version-history":[{"count":1,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/posts\/6977\/revisions"}],"predecessor-version":[{"id":6982,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/posts\/6977\/revisions\/6982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/media\/6945"}],"wp:attachment":[{"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/media?parent=6977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/categories?post=6977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/openafricantribune.com\/fr\/wp-json\/wp\/v2\/tags?post=6977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Nigerian ports<\/h3>\n\n\n\n
Nigerian fintech firms<\/h3>\n\n\n\n
![\"\"](\"https:\/\/openafricantribune.com\/wp-content\/uploads\/2026\/03\/The-Cable-1024x693.jpg\")
<\/figure>\n\n\n\nWhat this means for cross-border transactions<\/h3>\n\n\n\n
UK degree in Nigeria<\/h3>\n\n\n\n
![\"\"](\"https:\/\/openafricantribune.com\/wp-content\/uploads\/2026\/03\/The-Guardian-Nigeria-1024x576.webp\")
<\/figure>\n\n\n\nWhat the UK and Nigeria have to gain<\/h3>\n\n\n\n
Beyond the Glamour and MoUs<\/h3>\n\n\n\n