The trade volume between the United Kingdom and Nigeria stands at £5.5 billion, according to officials.
Minister of Industry, Trade and Investment, Niyi Adebayo, and UK Trade Envoy to Nigeria, Helen Grant, issued a joint statement.
They met on Monday in Abuja at the 8th United Kingdom-Nigeria Economic Development Forum (EDF).
Total UK exports to Nigeria was £3.3 billion in the four quarters of 2022; total UK imports from Nigeria was £2.2 billion within the same period.
At the meeting, the countries reaffirmed their commitment to deepen their trade relationship.
UK and Nigeria agreed that an enhanced partnership would offer an alternative high-profile mechanism to progress bilateral economic issues of mutual strategic importance.
“Nigeria is Africa’s largest economy and I’m delighted to see our trade and investment links grow”, said UK International Trade Secretary, Kemi Badenoch.
Badenoch noted that EDF’s successes over the last four years helped address crucial market access barriers and boosted exchanges in key sectors.
In her remarks, Grant said the UK wants Nigeria to become a higher-growth, more inclusive and more sustainable economy.
“This is part of a wider push by the UK to drive a free trade, pro-growth agenda across the globe, using trade to drive prosperity and help eradicate poverty”, the envoy added.
UK-Nigeria trade volume hits £5.5bn
