…banks, fintechs reinforce roles
A new report from the United Kingdom has hinted that hun‑ dreds of new jobs are set to be created as Nigerian banks, fintech innova‑ tors and creative indus‑ try businesses scale up their operations in Britain.
According to the report, the development will see millions invested, reinforcing the UK’s position as a leading global business hub, backed by world‑class talent, strong access to capi‑ tal, and a stable regulatory environment – while show‑ casing Nigeria’s expanding role as a key source of in‑ novation and investment into the UK, growing both economies.
It pointed out that UK’s Twinings Ovaltine had launched a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa. It comes as Nigeria’s President, Mr. Bola Tinubu, accompanied by the First Lady, Mrs. Oluremi Tinubu, yesterday commenced an historic State Visit to the UK, strengthening the UK’s position as a global hub for African business.
“Thanks to the UK’s Trade and Industrial Strategies – combined with commitments made through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – the government is attracting investment into key growth sectors including financial services, technology, education and advanced manufacturing.
“The Deputy Prime Minister held an ETIP reception on Monday at Kensington Palace, bringing together 180 senior representatives from government and industry to celebrate the breadth, depth, and continued growth of our trade relationship across priority sectors including financial services, education, creative industries, infrastructure and technology,” the report added.
The UK’s Trade Envoy to Nigeria, Florence Eshalomi, also addressed the group. 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 and delivering real benefits for people in both countries.” On his part, Deputy Prime Minister, David Lammy, said: “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. Growth is the core mission of this government, and it underpins our relationship with Nigeria. I am deeply proud that the cultural and commercial bonds between our nations are thriving and that both our businesses and people are feeling the benefits of that.”
