UK–Nigeria trade surges
UK–Nigeria trade hit a record £8.1 billion as Nigerian banks and fintechs push into the UK market, reportedly creating hundreds of jobs and driving cross‑border payments growth (africa.businessinsider.com). The move signals rising African fintech scale—firms are using UK entry to access capital, licensing and partnerships for wider European expansion (africa.businessinsider.com).
The UK Department for Business and Trade’s Nigeria factsheet says the reported total covers the 12 months to 30 September 2025 and rose 11.4% year‑on‑year, with UK exports to Nigeria at £5.7 billion and UK imports from Nigeria at £2.4 billion, leaving Nigeria as the UK’s 36th largest trading partner in that period. (GOV.UK: ) UK ministers ran an ETIP reception at Kensington Palace that gathered about 180 senior government and industry representatives as part of the trade push, and the government flagged a new Twinings Ovaltine £24 million manufacturing facility in Lagos that it says will create over 100 jobs. (GOV.UK: ) Fidelity Bank completed its 100% acquisition of Union Bank UK in 2023 and rebranded the unit as FidBank UK; government and media reporting say the UK unit had a 62‑person workforce that the group plans to double in 2026. (Fidelity Bank press release: Arise News: ) Zenith Bank has opened a Manchester branch to provide corporate banking, trade finance and treasury services in the UK, and multiple reports say the group has signalled intentions to seek a London Stock Exchange listing in 2027, a move that lifted its share price. (Nairametrics: BusinessDay: ) Moniepoint acquired Bancom Europe Ltd to gain an FCA‑regulated route into the UK market and has disclosed roughly $7.39 million of set‑aside spending for UK expansion, while official UK statements and press coverage say Moniepoint aims to grow its London team to about 100 staff in 2026. (The Business News: TechCabal: GOV.UK: ) LemFi closed a $53 million Series B in January 2025 and has raised roughly $85 million in total to date, with reporting citing plans to use new capital to base significant operations in London and local outlets reporting a headline plan of around £100 million of investment into the UK over five years. (TechCrunch: PitchBook: Nairametrics: )
