The United Kingdom will today enter into new economic and trade partnerships with Nigeria to facilitate new opportunities in sectors such as energy, legal and financial services.
The British Business and Trade Secretary, Kemi Badenoch together with her Nigerian counterpart Doris Uzoka Anitie- the Minister for Trade and Investment will put pen to paper in the first of its kind “Enhanced Trade and Investment Partnership (ETIP)” trade partnership with an African country.
This is according to a statement by the UK’s Department of Business and Trade detailing the activities of the visit of Business and Trade Secretary, Kemi Badenoch to Nigeria.
According to the statement, the new trade partnership aims to eliminate barriers in the legal services and film industry by allowing UK lawyers to practise international law in Nigeria and foster collaboration between the film and media industry in both countries.
Total trade between the UK and Nigeria totalled £7 billion ($8.8 billion) in the year to September 2023.
Speaking on the agreement, Ms. Kemi Badenoch noted that the ETIP will unlock future opportunities for both countries and enhance trade relations with one of the biggest and fastest growing economies of the world.
On her part, Nigeria’s trade Dr. Doris Uzoka-Anitie stated that the new partnership will move relations between both countries from mere historic ties to economic progress by opening market access for trade.
During her visit to Nigeria, Ms. Badenoch will tour the location of a new Charterhouse school, marking the first UK independent school in West Africa.
Additionally, she will engage in discussions with the Governor of the Central Bank of Nigeria and the Nigerian Finance Minister to address trade barriers hindering UK businesses.