Abuja, May 15, 2025 – Dr. Richard Montgomery, the British High Commissioner to Nigeria, says the volume of trade between the United Kingdom and Nigeria currently stands at £7.2 billion.
Montgomery said this in Abuja on Wednesday while briefing the press on trade relationship between UK and Nigeria.
He described the trade relationship as cordial, stressing that the UK and Nigeria share a long-standing and multi-dimensional relationship,
Montgomery also described trade relationship as the cornerstone of the broader bilateral ties, driving prosperity, innovation, and collaboration.
He said Nigeria is the UK’s second-largest trading partner in Africa, and the UK’s largest export market, underscoring its strategic importance.
The envoy said the UK and Nigeria Enhanced Trade and Investment Partnership (ETIP) was signed in February 2024 and it is the first of its kind with any African country and globally.
He described it as a landmark agreement that reflected the UK’s shared ambition to deepen economic ties.
Montgomery said the British High Commission is working with the Federal Ministry of Industry, Trade and Investment and other key Nigerian government agencies such as The Presidential Enabling Business Environment Council (PEBEC) in implementing the ETIP.
He said the ETIP is a jointly developed framework designed to foster inclusive growth.
“It aligns with Prime Minister Starmer’s growth agenda and with His Excellency President Tinubu’s 8-Point Economic Agenda, supporting job creation, economic expansion, and business environment reforms.
“It enhances collaboration between public and private sectors, promotes technical cooperation, and addresses non-tariff barriers such as quality standards, quotas, import licenses and custom complex procedures to unlock, sustainable trade and investment opportunities.
“ETIP spans eight key sectors, Clean Growth, Education, Health and Life Sciences, Creative Industries, Agriculture, Finance and Financial Services, Legal Services and Investment, as well as regulatory Cooperation (covering technical trade barriers, intellectual property, customs and trade facilitation), ” he said.
