By Abolaji Adebayo
Hundreds of new jobs are set to be created on two continents as Nigerian financial giants and British manufacturing leaders announce major new investments, marking a significant milestone ahead of President Bola Ahmed Tinubu’s historic State Visit to the UK this week.
Nigerian banks and fintech innovators are dramatically scaling up their British operations, injecting millions into the UK economy and reinforcing London’s status as a premier global business hub.
Zenith Bank officially opens its new Manchester branch today, a move expected to create up to 30 direct jobs and provide a substantial boost to the Northwest economy.
The bank is also reportedly exploring a potential listing on the London Stock Exchange by 2027 to deepen its market presence.
Dame Dr. Adaora Umeoji OON, Group Managing Director and Chief Executive Officer of Zenith Bank PLC, 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.”
Simultaneously, Fidelity Bank has completed the acquisition and rebranding of Union Bank UK into FidBank UK, with ambitious plans to double its 62-person workforce in 2026 and add new capital while making London the global hub for the Fidelity Group.
FCMB has also selected the UK as the first international destination for its digital cross-border payments platform, boosting trade and investment flows between Africa and the rest of the world. Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total.
The fintech sector is witnessing explosive growth, with LemFi designating London its global headquarters and committing to a £100 million investment over the next five years.
Moniepoint plans to grow its London-based team to 100 employees in 2026, building the infrastructure that supports millions of African users worldwide.
Kuda Bank is strengthening its UK headquarters as the base for global expansion and plans to double its UK footprint in 2026.
In a reciprocal boost to the Nigerian economy, British heritage brand Twinings Ovaltine has inaugurated a £24 million manufacturing facility in Lagos, its first in Africa, which will create over 100 direct jobs and boost the company’s exports across West Africa.
British fintech Wise will receive approval for its first Nigerian licence, enabling it to expand in a remittances market valued at up to £39.9 million.
The Nigeria Sovereign Investment Authority has signed an agreement with Asset Green Ltd to explore a large-scale integrated dairy project that will strengthen Nigeria’s dairy value chain, reduce reliance on imports and improve nutrition.
The creative industries are also set for a major uplift, with EbonyLife, one of Nigeria’s leading creative industry brands, launching EbonyLife Place London and creating up to 40 new jobs while strengthening the UK’s role as a home for African storytelling and creative talent.
The SCALE Creative Entrepreneur Award Programme, developed by the British Council and supported by the Department for Business and Trade, will support young Nigerian and UK creative entrepreneurs to grow internationally.
The UK Advertising Exports Group will announce a strategic partnership with the Nigerian advertising sector, including a UK-Nigeria Advertising Summit later this year and a talent exchange scheme.
A new UK-Nigeria Season of Culture is planned for 2028, involving a range of innovative initiatives and events designed by creative organisations from both countries.
A Creative Industries Roundtable at Lancaster House will bring together alumni, Chevening scholars and creative leaders from both nations.
The wave of collaboration extends into education, with leading UK universities expanding their footprint in Nigeria. The University of Birmingham and the University of Lagos have signed a new agreement to deliver programmes in Applied AI, Digital Communications and Global Surgery.
The LSE has launched a new Data Science partnership with Nile University of Nigeria alongside the University of the West of England opening a dedicated office in Lagos.
Wellington College International Lagos will open in 2027, offering places for 1,500 students as one of West Africa’s flagship British curriculum schools. EStars, a UK-owned educational esports and technology company, will partner with the Lagos State Ministry of Basic and Secondary Education to deliver esports-based digital learning programmes to approximately three million students.
The announcements come as President Tinubu, accompanied by First Lady Oluremi Tinubu, commence a historic State Visit on Wednesday.
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.”
Business and Trade Secretary, Peter Kyle, added: “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.”
With bilateral trade now at an all-time high of £8.1 billion a year, these latest investments underscore a shared commitment to growth and innovation between the UK and Nigeria.
The Deputy Prime Minister held an Enhanced Trade and Investment Partnership reception yesterday at Kensington Palace, bringing together 180 senior representatives from government and industry to celebrate the breadth, depth and continued growth of the trade relationship across priority sectors including financial services, education, creative industries, infrastructure and technology.
The UK’s Trade Envoy to Nigeria, Florence Eshalomi, also addressed the group.
