Nigeria: UK to sign trade deal with Nigeria, to permit UK lawyers practice there

The United Kingdom is set to establish fresh economic and trade collaborations with Nigeria, aiming to unlock opportunities in key sectors including energy, legal, and financial services.

British Business and Trade Secretary, Kemi Badenoch, alongside her Nigerian counterpart, Doris Uzoka Anitie, Minister for Trade and Investment, will sign the inaugural “Enhanced Trade and Investment Partnership (ETIP)” agreement, marking a significant milestone as the first of its kind between the UK and an African nation.

According to a statement from the UK’s Department of Business and Trade outlining the visit of Business and Trade Secretary Kemi Badenoch to Nigeria, the UK and Nigeria will sign the inaugural “Enhanced Trade and Investment Partnership (ETIP)” agreement.

As outlined in the statement, the new trade partnership aims to facilitate collaboration in the legal services and film industry by enabling UK lawyers to practice international law in Nigeria. Additionally, it seeks to foster cooperation between the film and media sectors of both nations.

Total trade between the UK and Nigeria reached £7 billion ($8.8 billion) in the year leading up to September 2023.

Commenting on her visit to Nigeria, British High Commissioner to Nigeria, Dr Richard Montgomery, was quoted as saying: “Nigeria is one of the UK’s most important partners in Africa. We are committed to helping Nigeria unlock new investment opportunities, supporting more UK and international investment through the City of London, and thereby creating jobs in both our countries.

“Recent big and bold reforms by the Federal Government of Nigeria and the Central Bank of Nigeria are boosting optimism amongst international investors that the country is on the right path and are creating the conditions for growth.”