New Investments And Jobs To Be Created As President Tinubu Visits The UK

President Bola Ahmed Tinubu’s historic two-day state visit to the United Kingdom, which kicked off on Wednesday, has already unlocked landmark investment deals worth hundreds of millions of pounds, boosting Nigeria’s infrastructure, manufacturing and trade ties while positioning the country as a major investor in Britain.

The visit, the first state visit by a Nigerian president to the UK in 37 years, sees President Tinubu and First Lady Oluremi Tinubu hosted by King Charles III at Windsor Castle. Beyond the ceremonial pomp, concrete business outcomes have emerged, including a £746 million financing agreement for the modernisation of Apapa and Tin Can Island ports – Nigeria’s busiest gateways handling over 70 per cent of the nation’s imports and exports.

The deal, backed by UK Export Finance (UKEF) and to be formally signed during the visit, marks the most ambitious upgrade of Nigeria’s seaports in nearly 50 years. Minister of Marine and Blue Economy, Adegboyega Oyetola, who unveiled the agreement, described it as a game-changer that will enhance efficiency, reduce congestion and strengthen Nigeria’s position in global maritime trade.

In return, British giant Twinings Ovaltine has launched a £24 million manufacturing facility in Lagos – its first in Africa – creating over 100 direct jobs and paving the way for increased exports across West Africa. The factory opening is timed ahead of the state visit, signalling strong British confidence in Nigeria’s growing market.

On the flip side, Nigerian companies are making bold moves into the UK, generating hundreds of new jobs and reinforcing Britain as a global business hub. Zenith Bank Plc officially opened its new Manchester branch on Tuesday, with capacity to create up to 30 direct jobs in the North West. The bank is also eyeing a 2027 listing on the London Stock Exchange to deepen its UK presence and support UK-Africa growth.

Group Managing Director/CEO of Zenith Bank, Dame Dr Adaora Umeoji OON, said: “The United Kingdom remains a key global financial centre. The opening of Zenith Bank Manchester therefore marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”

Other Nigerian heavyweights are scaling up aggressively. Fintech leaders LemFi will inject £100 million over the next five years, naming London its global headquarters. Moniepoint plans to expand its London team to 100 employees in 2026, while Kuda Bank is doubling its UK footprint. Fidelity Bank (Fidbank) intends to double its 62-person workforce, making London its global hub, and FCMB has chosen the UK as the launchpad for its digital cross-border payments platform.

Creative powerhouse EbonyLife is set to launch EbonyLife Place London, creating up to 40 new jobs and elevating African storytelling on the global stage. Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total.

UK officials have hailed the mutual benefits. Business and Trade Secretary Peter Kyle said: “The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives, and today’s commitments show exactly that. With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest growing markets, our partnership is strengthening both economies.”

Deputy Prime Minister David Lammy added: “The UK and Nigeria’s Strategic Partnership is bringing momentum and opportunity to innovators in both our countries. We are reducing barriers, creating jobs and opening new pathways for growth.”

Additional deals include British fintech Wise securing its first Nigerian licence to tap into the £39.9 million remittances market, partnerships between Nigerian universities and UK institutions like the University of Birmingham, LSE and Wellington College International Lagos (opening in 2027), and initiatives in creative industries such as the UK/Nigeria Season of Culture in 2028.

Bilateral trade between the two nations has hit an all-time high of £8.1 billion annually, underscoring the depth of the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP).

NaijaChoice News notes that these announcements, released by the UK Department for Business and Trade on March 17, highlight President Tinubu’s administration’s focus on attracting foreign direct investment while encouraging Nigerian enterprises to go global. Industry watchers say the deals will not only ease port bottlenecks and create local jobs but also open new avenues for Nigerian businesses to access UK capital and expertise.

As the state visit continues through Thursday, more memoranda on defence, culture and technology are expected to be signed, further cementing Nigeria-UK relations for mutual prosperity.