UK Reaffirms Strong Commitment to Deepen Bilateral Trade and Investment Relations with Nigeria

British Deputy High Commissioner Mr. Jonny Baxter speaks during the inauguration of the UK-Nigeria Economic Diversification Working Group Dialogue in Lagos.

The United Kingdom has reaffirmed its unwavering commitment to strengthening and expanding bilateral trade relations with Nigeria. This renewed commitment was restated by the British Deputy High Commissioner to Nigeria, Mr. Jonny Baxter, during the inauguration of the UK-Nigeria Economic Diversification Working Group Dialogue, held in Lagos on Thursday.
According to Baxter, the new initiative is designed to consolidate the long-standing partnership between both nations and unlock new opportunities for trade, investment, and innovation across key sectors of Nigeria’s economy.

“This dialogue reflects our shared commitment to driving inclusive and sustainable economic growth through strategic export diversification,” Baxter said.

The dialogue, organized under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), marks another significant milestone in the historical relationship between the two nations. It comes shortly after the successful Developing Countries Trading Scheme (DCTS) Roadshow, which took place in Kano and Lagos. The DCTS is one of the United Kingdom’s most impactful trade initiatives designed to support developing economies like Nigeria by simplifying trade rules and reducing tariffs for exporters. The Lagos dialogue brought together senior government officials, trade experts, business leaders, and private-sector stakeholders from both countries to deliberate on strategies that can boost Nigeria’s non-oil exports and enhance bilateral investments.

A major highlight of the dialogue was the emphasis on diversifying Nigeria’s economy beyond crude oil exports. Discussions centered around sectors such as agriculture, manufacturing, textiles, and digital services, areas that hold massive potential for job creation and foreign exchange earnings.
Baxter noted that the United Kingdom remains a steadfast partner in helping Nigeria harness these opportunities. Through initiatives like Propcom+, a UK-supported market development program, Britain continues to work closely with Nigerian stakeholders to create an enabling environment for trade and investment.

“By working together with governments and the private sector, the UK is unlocking new opportunities that will drive inclusive growth and innovation,” Baxter added.

The Developing Countries Trading Scheme (DCTS) is a crucial component of the UK’s post-Brexit global trade policy. It aims to foster mutually beneficial trade relationships with developing nations by providing preferential access to the UK market. Under the DCTS, over 3,000 Nigerian products are eligible for tariff reductions and simplified export procedures. These include agricultural produce such as ginger, cocoa, sesame seeds, cashew nuts, and soybeans, as well as textiles and manufactured goods.
This development means that more Nigerian exporters can now access the UK market with reduced costs, improved competitiveness, and faster turnaround times, a major boost for small and medium-sized enterprises (SMEs) in the non-oil sector. Baxter highlighted that the scheme was designed to empower exporters, promote economic inclusiveness, and stimulate Nigeria’s diversification drive.

“The DCTS offers real opportunities for Nigerian exporters to thrive in global markets. It is a tool for reducing poverty and driving industrial growth,” he stated.

Representing the Nigerian government, Ambassador Abba Nura Rimi, Permanent Secretary at the Federal Ministry of Industry, Trade, and Investment, commended the UK for its consistent partnership and support towards Nigeria’s economic development. Rimi, who was represented by Mrs. Gertrude Orji, Director of Trade and Investment at the Ministry, stressed the need for Nigerian exporters and businesses to gain a deeper understanding of the DCTS framework to fully maximize its benefits.

“Through partnerships like this with the UK Department for Business and Trade, we aim to reduce barriers to trade, improve competitiveness, and ensure that Nigerian products meet international standards,” Rimi said.

He also called for stronger collaboration between government agencies, business associations, and export stakeholders to promote quality assurance, standardization, and compliance with global market regulations. The UK-Nigeria Economic Diversification Working Group Dialogue serves as a platform to share knowledge, build capacity, and align strategies for mutual economic benefit. Both nations have recognized the importance of innovation, technology, and entrepreneurship as key drivers of sustainable development. According to trade experts present at the event, Nigeria’s youthful population, expanding tech ecosystem, and rich agricultural base make it one of Africa’s most promising emerging markets.
The UK government’s approach, therefore, goes beyond traditional aid. It is focused on building long-term economic resilience by promoting trade facilitation, value addition, and sustainable investments that align with Nigeria’s industrialization goals.

Private-sector participation was also a strong focus of the dialogue. Business leaders from both Nigeria and the UK emphasized that public-private partnerships are essential for driving economic diversification and export growth. Companies operating in agriculture, manufacturing, renewable energy, and digital services expressed optimism about the potential of the new trade initiatives.
Several Nigerian exporters shared experiences on how UK-backed programs have helped them expand production capacity, access funding, and improve product quality for export.
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As the global economy faces new challenges from geopolitical shifts and supply chain disruptions, partnerships like the UK-Nigeria Economic Diversification Working Group are crucial for building resilience. The dialogue reaffirms that Nigeria remains a strategic partner for the United Kingdom in Africa, not just as a trading destination but as a hub for innovation and sustainable development.
Baxter concluded by emphasizing that the UK government will continue to invest in Nigeria’s economic future through support for trade facilitation, capacity building, and infrastructure development.

“Our partnership is rooted in mutual respect, shared prosperity, and a common vision to unlock Africa’s potential,” he said.

The inauguration of the UK-Nigeria Economic Diversification Working Group Dialogue signals a new chapter in bilateral cooperation between the two nations. With the implementation of the DCTS and other strategic programs, both countries are set to witness increased trade flows, investment opportunities, and sustainable development outcomes. For Nigeria, the initiative provides a timely opportunity to diversify its export base, strengthen industrial capacity, and boost foreign exchange earnings. For the United Kingdom, it reinforces its post-Brexit vision of establishing stronger, more inclusive partnerships across Africa. As both nations continue to align their economic goals, the dialogue stands as a testament to the power of collaboration, innovation, and mutual commitment to growth.

 By Primelineinfo