The British High Commissioner to Nigeria, Dr. Richard Montgomery, has revealed that the Nigeria-UK trade value has reached an unprecedented ₦16 trillion (£7.9 billion), marking the highest in history.
Montgomery described the development as a testament to stronger bilateral ties and post-Brexit opportunities that are creating mutual economic growth.
Nigeria-UK Trade Value Hits Historic High
Speaking in Abuja on Wednesday, Montgomery emphasized that the current Nigeria-UK trade value represents a “very positive trajectory” in economic relations.
He linked the surge to the Enhanced Trade and Investment Partnership (ETIP), a framework designed to remove trade barriers and expand collaboration in critical sectors.
“This is the highest level the Nigeria-UK trade value has ever reached, and it underscores the importance of post-Brexit independence in structuring trade deals,” he said.
The envoy explained that Britain’s exit from the European Union opened the door for a more flexible trade policy, enabling Nigeria to become one of the biggest beneficiaries in areas such as immigration, trade, and investment.
Montgomery noted that Brexit has also influenced demographic and social ties.
Between 2021 and 2025, the Nigerian diaspora in the UK rose sharply from 300,000 to 550,000, partly due to a more liberal visa regime.
According to him, this demographic shift complements the growing Nigeria-UK trade value, as more Nigerians living in Britain contribute to investment flows, remittances, and stronger cultural linkages between both nations.
“Nigeria has been one of the biggest beneficiaries of Brexit. We now see more Nigerians studying, working, and building businesses in the UK, which in turn strengthens trade and economic cooperation,” Montgomery explained.
The British envoy highlighted that the ETIP remains central to scaling up the Nigeria-UK trade value.
The partnership targets specific areas of comparative advantage, including financial services, technology, artificial intelligence, creative industries, and agriculture.
Montgomery added that through the ETIP and the Developing Countries Trading Scheme (DCTS), Nigerian exports are benefiting from tariff reductions and improved access to UK markets.
“This framework is not one-sided; it’s mutually agreed upon.
It identifies sectors where the UK has a comparative edge and areas where Nigeria wants to unlock opportunities. The ultimate goal is job creation and shared prosperity,” he said.
Beyond trade, Montgomery pointed to opportunities in higher education, energy solutions, and agriculture.
He said the UK is investing in Nigerian universities while supporting agricultural exports to maximize the country’s vast potential.
He also noted that the creative economy is emerging as a growth driver within the Nigeria-UK trade value, particularly with collaborations in digital platforms, financial technology, and advanced manufacturing.
“These are sectors where the UK brings expertise, and Nigeria brings youthful energy and market demand.
When combined, they elevate the Nigeria-UK trade value to unprecedented levels,” Montgomery stressed.
The envoy added that Brexit gave the UK “independence and freedom” to strengthen partnerships beyond Europe.
He cited the U.S. as an example, where economic realignments have led to massive American investments in Britain.
However, he emphasized that Nigeria stands out as a strategic partner on the African continent.
“The rise in Nigeria-UK trade value is proof that our realigned strategy is working. It shows that Brexit has not isolated us but has expanded our reach,” Montgomery stated.
Montgomery praised Nigeria’s economic reforms under its current administration, describing them as encouraging for investors.
He noted that the alignment of domestic policies with international frameworks like ETIP would further accelerate growth.
He urged policymakers in Nigeria to continue implementing reforms that make the business climate more attractive, stressing that sustained improvements in governance, infrastructure, and regulation would consolidate the gains in Nigeria-UK trade value.
Both governments, according to Montgomery, have committed to monitoring and evaluating the outcomes of ETIP through their respective ministries and trade agencies.
“The Nigeria-UK trade value is not just about figures; it represents jobs, growth, and opportunities on both sides.
Our target is to ensure that this partnership keeps delivering results for ordinary citizens in both countries,” he said.
Analysts believe that with continued reforms, Nigeria’s growing diaspora in the UK, and increasing collaboration in innovation-driven sectors, the Nigeria-UK trade value is poised for further expansion beyond the ₦16 trillion mark in the coming years.
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