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Nigeria, UK Ink MoU to Boost Trade and Investment

The UK has signed an Enhanced Trade and Investment Partnership (ETIP) with Nigeria to boost trade and investment between the two countries and unlock new opportunities for UK and Nigerian businesses.
Secretary of State Kemi Badenoch signed the ETIP alongside her Nigerian counterpart Nigerian Trade Minister Doris Nkiruka Uzoka-Anite today in Abuja.
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.
This arrangement will pave the way for opportunities in sectors crucial to both economies such as finance and legal services as well as foster new collaborations in innovative areas like the creatives industry. The visit by the Secretary of State comes a week ahead of a UK Government-led fashion and beauty trade delegation to Nigeria.
The ETIP also initiates further collaboration on the UK’s ambitious Developing Countries Trading Scheme (DCTS), launched last year which puts in place simpler and more generous trading terms for Nigeria and 36 other African countries.
Nigeria is a major beneficiary of changes introduced by the DCTS and will see tariff reductions on over 3000 products, meaning that 99% of existing Nigerian exports to the UK by value will be duty free. Tariffs have been removed on Nigerian goods which promote value addition in important non-oil export sectors such as cocoa butter and paste, sesame oil and clothing and apparel. These changes will boost trade with the UK and support the Federal Government of Nigeria’s wider trade policy priorities.
Business and Trade Secretary Kemi Badenoch said: “The UK and Nigeria are vital partners, with longstanding historical and economic ties.
“UK businesses are already seeing huge success in Nigeria – one of the fastest growing economies in the world.
“I’m delighted to be here to sign our new enhanced partnership which will allow UK firms to export their world-class goods and services more easily and expand their footprint in Nigeria.”
Nigerian Minister for Trade Doris Nkiruka Uzoka-Anite said: “The UK is one of our long-standing strategic partners with whom we share strong ties, and it gladdens me that this relationship is set to deepen as we sign the Enhanced Trade and Investment Partnership.
“This partnership will see Nigeria-UK relations move beyond one of shared history and strong ties to one of shared economic prosperity. From increasing market access and supporting our vibrant businesses, to creating more jobs and accelerate greater investments in sectors of mutual interests.”
The ETIP will help to build on the significant progress already made in resolving market access barriers in the education and financial sectors, which have led to a more favourable trading environment for UK and Nigerian businesses.
In addition, through this partnership, there is an opportunity to leverage UK and international investment from the City of London, which is home to the top financial and professional services.
TheCityUK International Managing Director Nicola Watkinson said: “Nigeria is an important growth market for the UK-based financial and related professional services industry and TheCityUK welcomes the signing of the new ETIP.
“We look forward to continuing our engagement through the working groups to increase market access and remove regulatory frictions.”
During the visit, Minister Badenoch will also hold a groundbreaking ceremony at Abuja’s first industrial park built by UK-Turkish construction firm Zeberced Ltd to open its support services areas at the site.
The UK government has been supporting the firm in a number of areas. The $144m industrial park is set to create 620 direct jobs and 1,650 indirect jobs and provide a base for major firms to access central and northern Nigeria.
The UK trade minister will in addition, witness the signing of a landmark energy agreement between UK based energy firm Konexa and Nigerian power generation company North South Power (NSP).
The agreement will enable Konexa to supply Nigerian Breweries PLC with 100% renewable power, promote sustainable development and clean energy adoption, and lead to infrastructure investments of over £14 million.
Konexa CEO Pradeep Pursnani said: “This is a very important milestone for Konexa, North South Power, Nigerian Breweries, and all our investment partners. Over the last few years, Konexa has been working on a disruptive model that matches customer energy demand with renewable energy supply.
“We are looking forward to investing more than £120m in renewable energy generation, transmission, distribution, and battery storage solutions to help our customers transition away from the use of fossil fuel.”
News
HCSF Describes Galaxy Backbone as a Strategic Partner in Civil Service Digitalization Reforms

In a significant move towards accelerating the Federal Government’s digital transformation agenda, the Head of the Civil Service of the Federation (HCSF), Mrs. Didi Esther Walson-Jack, paid a strategic working visit to Galaxy Backbone (GBB) Limited, Nigeria’s foremost ICT infrastructure and shared services provider.
The visit, which took place at GBB’s National Shared Services Centre (NSSC) and Corporate Headquarters in Abuja, forms part of the HCSF’s efforts to deepen collaboration and assess the technological infrastructure supporting the government’s ongoing digitalisation reforms across Ministries, Departments, and Agencies (MDAs).
Accompanied by the Permanent Secretary of the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), Mr. Adeladan Rafi’u Olarinre, and a delegation of Permanent Secretaries and Directors from the Office of the Head of the Civil Service, the visit featured an extensive tour of GBB’s cutting-edge Digital Infrastructure facilities. These included its Network Operations Centre (NOC), Security Operations Centre (SOC), and Uptime Institute Certified Tier III Data Centre; all built to ensure a secure, scalable, and sovereign digital infrastructure for Nigeria’s public sector.
In his welcome address, Mr. Adeladan Rafi’u Olarinre described Galaxy Backbone as a critical institution under the supervision of FMCIDE, tasked with providing the nation’s core digital infrastructure and shared ICT services. “Today’s visit is an important opportunity to showcase the significant progress GBB has made in building the infrastructure necessary for a truly digital government,” he said.
“I believe this engagement will foster stronger alignment and collaboration between MDAs and GBB as we move towards a more connected and efficient public service.”
The Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, expressed appreciation for the visit, noting its alignment with GBB’s mandate to support Nigeria’s digital transformation goals.
“A visit of this nature by the Head of the Civil Service is highly symbolic,” he remarked. “It reinforces the central role that the Civil Service plays in national development and highlights the importance of strategic ICT infrastructure in driving effective governance.”
He went on to emphasize that GBB’s mission to design, build, and manage Nigeria’s digital infrastructure aligns seamlessly with the Civil Service’s digital reform agenda.
“Our platforms; including the 1Government Cloud, GovMail, and our extensive fibre optic network present in 28 states, are designed to support a digitally enabled, secure, and efficient government,” Prof. Adeyanju added.
He also called for greater collaboration with the Office of the Head of Service to drive the adoption of GBB’s infrastructure, particularly the fibre optic connectivity already terminated at Federal Secretariat buildings across 28 states of the country. He further appealed for support in expanding Local Area Networks (LANs) in the Federal Capital Territory (FCT) secretariat buildings to integrate more MDAs into the digital ecosystem.
In her remarks, Mrs. Walson-Jack commended the world-class infrastructure and strategic digital solutions developed by Galaxy Backbone, stating that her perception of the agency had been greatly enhanced following the tour.
“This visit has opened my eyes to the enormous potential and capacity that Galaxy Backbone brings to Nigeria’s digital journey,” she said. “I now see GBB not just as an ICT agency, but as a strategic partner in the realisation of our dream to build a modern, agile, and paperless civil service.”
She specifically praised GBB’s support for the “War Room” initiative, the widespread deployment of GovMail — currently serving over 34,000 civil servants, and the agency’s high-speed fibre connectivity provided during the 2025 International Civil Service Week hosted by her office.
Reaffirming her office’s commitment to achieving a fully paperless civil service by December 31, 2025, the Head of Service expressed optimism that this goal is attainable with stronger collaboration and technical support from GBB.
She also highlighted several strategic areas where partnership with GBB is critical, including:
- Full implementation of the 1Government Cloud to host and manage MDA operations.
- Adoption of an Enterprise Content Management System (ECMS) to streamline records and workflow automation across MDAs.
- Synergy between the 1Government Cloud Academy and the Civil Service Academy to enhance capacity development.
- Training and onboarding of civil servants on innovative tools such as Service-Wise GPT – Nigeria’s AI-powered platform designed to transform public service delivery.
Mr. Mohammed Ibrahim Sani, Executive Director of Finance and Corporate Services at GBB, in his vote of thanks, expressed deep gratitude to the Head of Service and her delegation for taking the time to visit and engage with the team. He reiterated GBB’s unwavering commitment to partnering with all stakeholders to deliver inclusive, resilient, and forward-looking digital solutions for the Federal Government.
News
Festive Seasons Trigger 400% Spike in Livestock Prices Across Nigeria’s North East — Moniepoint Study

A new study by Moniepoint Inc., Africa’s leading financial technology company, has revealed that livestock prices in Nigeria’s North East markets surge by up to 400% during festive seasons, driven by high demand from cities like Lagos, Port Harcourt, and Onitsha.
The report, which focuses on informal market dynamics in Borno State, shows that traders at Kasuwan Shanu in Gamboru dispatch an average of 50 trucks daily during peak periods such as Eid al-Adha and Christmas, with goat prices rising by 400–470% and rams by over 230%.
Beyond seasonal spikes, the study highlights a shift toward investment-minded trading, where livestock is raised in advance to boost resale value. This approach is helping traders build more stable and profitable businesses, despite the region’s history of conflict and economic volatility.
Key findings include:
- 51.2% of traders source goods from Maiduguri, reinforcing its role in Nigeria’s food supply chain
- 45% of traders now accept digital payments, with mobile transfers and POS usage rising sharply since the 2023 cash crunch
- Informal credit and trust-based transactions remain dominant, often conducted via phone calls and voice notes, without formal contracts
Moniepoint CEO Tosin Eniolorunda said the company’s tools are helping bridge long-standing gaps in access to finance: “This shift isn’t just tech-enabled — it’s structurally impactful. We’re helping build an economy where everyone can participate.”
The study joins Moniepoint’s growing portfolio of thought leadership on Nigeria’s informal economy, following previous reports on Onitsha Market, community pharmacies, and women-owned businesses.
News
FG Eyes 8,000MW Power Boost in 18 Months with Grid Overhaul

Federal Government has expressed optimism that improved management of the national power grid by the Nigerian Independent System Operator (NISO) could increase electricity supply to 8,000 megawatts within the next 12 to 18 months.
Speaking at a leadership retreat to onboard NISO’s top management in Abuja, the Director General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, noted that although Nigeria’s installed generation capacity exceeds 14,000MW, actual daily output has hovered around 5,500MW.
Gbeleyi emphasized that with more efficient grid operations and increased investments in transmission and distribution infrastructure, the power sector is poised for substantial improvement.
“As an independent entity, NISO now carries the critical responsibility of managing the national grid with impartiality and integrity. It must ensure non-discriminatory access, efficient dispatch coordination, and fair market settlements—free from undue influence or conflicts of interest.
“Currently, about 5,500MW of power is being wheeled daily, compared to a nameplate generation capacity of over 14,000MW. With the right investments and enhanced grid resilience, it is realistic to project a 50% increase in supply within 12 to 18 months,” he said.
Gbeleyi also revealed that the Federal Government has secured a $500 million loan from the World Bank to support the upgrade of the distribution infrastructure. Under this initiative, 3.2 million electricity meters will be deployed across Nigeria, with an additional 2 to 3 million meters to be provided through a separate presidential initiative.
Chairman of the NISO Board, Dr. Adesegun Akin-Olugbade, stressed the significance of NISO’s independence following its unbundling from the Transmission Company of Nigeria (TCN).
“NISO is not just a new institution; it represents a new approach—an independent system operator, a neutral market coordinator, and a strategic planning authority. Our responsibilities span real-time grid operations, long-term system planning, and the development of the electricity market.
“These are not peripheral tasks—they are core to national stability. When power fails, everything else suffers: industry, healthcare, education, even security,” he said.
Also speaking, NISO Managing Director/CEO, Engr. Abdu Bello, affirmed that the 8,000MW target is achievable within the projected timeframe.
“We must stay focused, get our internal structures right, and attract private sector investment. This retreat is part of the strategic planning process. With a clear direction and commitment, the goal is within reach,” Bello stated.
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