The United Kingdom is expected to sign a new deal with Nigeria on February 13, to boost trade, and investments and unlock new opportunities in various sectors. This was revealed in a statement by the UK's Department of Business and Trade on Tuesday. According to the statement, Kemi Badenoch, the UK’s business and trade secretary, and Doris Uzoka-Anitie, minister for trade and investment in Nigeria, will be signing the deal today. The statement explained that the Enhanced Trade and Investment Partnership (ETIP) is the first the UK has signed with an African country and is designed to grow the UK and Nigeria’s already thriving trading relationship, which totaled £7 billion in 2023. According to the statement, the new trade partnership aims to eliminate barriers in the legal services and film industry by allowing UK lawyers to practice international law in Nigeria and foster collaboration between the film and media industry in both countries.
"It will see Nigeria commit to working towards removing barriers preventing UK lawyers from practicing international and foreign law in Nigeria, a step that could significantly increase UK legal services exports. It will also pave the way for further collaboration in the film and media industry and encourage world-leading UK education providers to offer high-quality education in Nigeria, it stated.
Badenoch expressed her enthusiasm for the ETIP, highlighting its potential to unleash a wave of exciting opportunities for both countries.
“This partnership with Nigeria the UK’s first such agreement with an African country — will allow us to work together and seize the opportunities that lie ahead,” she said.
"Nigeria has one of the fastest growing economies in the world. UK businesses have already seen huge success here and I look forward to seeing how we continue to grow this relationship.
On her part, Dr. Uzoka-Anitie noted that the new partnership will move relations between both countries from mere historic ties to economic progress by opening market access for trade.
"This partnership will see Nigeria-UK relations move beyond one of shared history and strong ties to one of shared economic prosperity. From increasing market access and supporting our vibrant businesses to creating more jobs and accelerating greater investments in sectors of mutual interests," she said.
