- The UK government’s statement outlines Nigeria’s commitment to address barriers hindering UK lawyers from practicing international and foreign law within Nigeria
On February 13, 2024, the UK is set to sign a partnership with Nigeria aimed at enhancing trade, investment, and creating new opportunities for businesses from both nations.
The collaboration, spanning various sectors including financial and legal services, is expected to foster economic growth. The UK government’s statement outlines Nigeria’s commitment to address barriers hindering UK lawyers from practicing international and foreign law within Nigeria, potentially leading to a notable increase in the export of UK legal services.
“It will also pave the way for further collaboration in the film and media industry and encourage world-leading UK education providers to offer high-quality education in Nigeria,” the statement said.
“The Enhanced Trade and Investment Partnership (ETIP) is the first the UK has signed with an African country and is designed to grow the UK and Nigeria’s already thriving trading relationship, which totalled £7 billion in the year to September 2023.”
“Nigeria is the biggest economy in Africa and one of the world’s fastest growing economies – predicted to be in the top 20 by GDP by 2035. It is also predicted by the UN to nearly double its population to over 370 million people by 2050.”
The UK Business and Trade Secretary, Kemi Badenoch, A British-Nigerian, said: “This partnership with Nigeria – the UK’s first with an African country – will allow us to work together and seize the opportunities that lie ahead.
“Nigeria has one of the fastest growing economies in the world. UK businesses have already seen huge success here and I look forward to seeing how we continue to grow this relationship.”
Badenoch will sign the ETIP alongside Nigerian Trade Minister Doris Nkiruka Uzoka-Anite in Abuja on Tuesday (today).
While in Nigeria, Badenoch will visit the site of a new Charterhouse school, the first UK independent school in West Africa and meet with the Governor of the Central Bank of Nigeria and the Nigerian Finance Minister to unblock trade barriers facing UK businesses.