Hundreds of new jobs will be created across the UK as a wave of Nigerian banks, fintech companies and creative industries companies expand their operations in the UK, bringing millions of pounds of new investment into the economy.
The announcements come ahead of a historic state visit by Bola Ahmed Tinubu and First Lady Oluremi Tinubu (pictured), which is expected to further strengthen economic ties between the two countries. The investments underline the UK’s growing importance as a hub for African businesses, while underlining Nigeria’s growing role as a source of innovation, entrepreneurship and capital.
Several Nigerian financial institutions are significantly expanding their presence in the UK, with the banking sector expected to be a key driver of new jobs. Zenith Bank has opened a new branch in Manchester, creating up to 30 direct jobs and boosting the North West economy. The bank is also exploring a possible listing on the London Stock Exchange in 2027 to deepen its presence in UK financial markets and strengthen investment flows between the UK and Africa.
Other Nigerian financial institutions are also increasing their presence in the UK. Fidelity Bank plans to double its UK workforce from 62 employees in 2026 while expanding its capital base. The broader Fidelity Group is also positioning London as its global operating center. Meanwhile, First City Monument Bank has selected the UK as the first international launch market for its new digital cross-border payments platform, designed to streamline trade and financial transfers between Africa and global markets.
A total of seven Nigerian banks now operate in the UK, collectively supporting around 1,000 jobs while strengthening financial links between the two economies.
In addition to traditional banking, Nigeria’s fast-growing fintech sector is investing heavily in the UK as a base for global expansion. LemFi has announced plans to invest £100 million over the next five years after naming London its global headquarters. The investment will support product development, technology infrastructure and the expansion of its international workforce.
Digital banking platform Moniepoint is also expanding its operations in London, with plans to grow its UK-based team to around 100 employees in 2026 as it builds an infrastructure to support millions of users across Africa. Similarly, Kuda Bank is strengthening its UK headquarters as the center of its international expansion strategy and expects to significantly increase its UK headcount in the coming year.
Government ministers say the wave of investment reflects the strength of the UK-Nigeria economic partnership and the UK’s continued attractiveness as a location for global businesses. Peter Kyle said the growing ties between the two countries demonstrated the power of cooperation between their business communities.
“The UK and Nigeria share a belief in the power of entrepreneurship, innovation and education to transform lives,” he said. “Today’s commitments demonstrate just that. As Nigerian firms create jobs across the UK and British businesses expand into one of the fastest growing markets in the world, our partnership strengthens both economies.”
David Lammy added that the partnership between the two countries offers new opportunities for companies and innovators on both sides of the relationship.
“The strategic partnership between the UK and Nigeria brings momentum and opportunities for innovators in both our countries,” he said. “We are breaking down hurdles, creating jobs and opening up new growth paths.”
The investments are supported by the UK-Nigeria Enhanced Trade and Investment Partnership, which focuses on expanding cooperation in financial services, technology, infrastructure and education.
The creative industries are also playing a growing role in strengthening relations between the two countries. EbonyLife will open EbonyLife Place London, a new cultural and entertainment venue designed to create around 40 jobs and showcase African creative talent in the UK.
The partnership between the countries’ creative sectors is expected to be further deepened through initiatives such as a UK-Nigeria advertising summit and talent exchange program, as well as a planned UK-Nigeria cultural season in 2028, organized in collaboration with the British Council.
As economic ties strengthen, British companies are also expanding into Nigeria. Twinings Ovaltine has opened a £24 million manufacturing facility in Lagos, its first manufacturing site in Africa, which will create more than 100 jobs and increase exports across West Africa.
Meanwhile, fintech firm Wise is expected to receive regulatory approval for its first license in Nigeria, which will allow it to expand into the country’s fast-growing remittance market.
Education partnerships are also on the rise, with leading British universities deepening collaborations with Nigerian institutions. The University of Birmingham and the University of Lagos have signed an agreement to develop programs in applied artificial intelligence, digital communications and global surgery. The London School of Economics has launched a new data science partnership with the Nile University of Nigeria, while the University of the West of England has opened its own office in Lagos.
Further collaboration in education will occur with the opening of Wellington College International in Lagos in 2027, which will accommodate around 1,500 students and become one of West Africa’s flagship schools with a British curriculum.
Officials say the breadth of investments, spanning finance, technology, creative industries and education, underlines the deepening trade relationship between the UK and Nigeria. As global economic uncertainty increases, policymakers hope that strengthening partnerships with fast-growing markets like Nigeria will help drive long-term investment, innovation and job creation across the UK economy.
