The United Kingdom and Nigeria have entered into a partnership agreement aimed at boosting trade and investment between the two countries and creating new opportunities for mutual growth.
The Enhanced Trade and Investment Partnership (ETIP) agreement was signed by the United Kingdom Minister for Business and Trade, Kemi Badenoch, and her Nigerian counterpart, Nigerian Trade Minister Doris Nkiruka Uzoka-Anite, in Abuja on Tuesday.
According to a statement released by the Senior Press and Public Affairs Officer and Comms Lead for Prosperity and Economic Development at the British High Commission in Lagos, Ndidiamaka Eze, the ETIP marks the first agreement of its kind signed by the UK with an African country.
It aims to build upon the already robust trading relationship between the UK and Nigeria, which amounted to £7 billion in the year to September 2023.
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Kemi Badenoch highlighted the significance of the agreement, emphasizing that Nigeria’s status as one of the fastest-growing economies in Africa presents ample opportunities for British businesses.
She expressed optimism about the agreement facilitating easier export of UK goods and services into Nigeria, thereby allowing UK firms to expand their presence in the country.
In her remarks, Nigerian Minister for Trade Doris Nkiruka Uzoka-Anite underscored the importance of the UK as a longstanding strategic partner for Nigeria.
She welcomed the deepening of the bilateral relationship through the signing of the ETIP, noting that it would foster shared economic prosperity by enhancing market access, supporting businesses, creating jobs, and attracting investments in sectors of mutual interest.
Prior to the signing ceremony, Kemi Badenoch visited the Charterhouse School building in Lagos, which is the first British independent school in West Africa, further emphasizing the close ties between the UK and Nigeria.
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