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UK Reaffirms Commitment to Strengthen, Deepen Trade Relation with Nigeria

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The UK has reaffirmed commitment to strengthen and deepen its relationship with Nigeria, as both sides confirmed their shared interest in pursuing a potential Enhanced Trade and Investment Partnership at the eighth and final UK-Nigeria Economic Development Forum (EDF) which held today at the Transcorp Hilton Hotel in Abuja.

The EDF was launched by the former Prime Minister, Theresa May and President Muhammed Buhari in August 2018 and held bi-annually; serving as a platform to address market access barriers, respond to opportunities and challenges of doing business and boost bilateral trade and investment in our two countries.

Since 2018, the EDF has played a crucial role in strengthening the UK-Nigeria trading relationship and through this forum, both countries have been able to unlock finance, facilitate better regulatory link ups, support British and Nigerian businesses and engage on important global issues.

The total trade in goods and services (exports plus imports) between the UK and Nigeria currently stands at £5.5billion. Of this £5.5 billion: total UK exports to Nigeria amounted to £3.3 billion in the four quarters to the end of Q2 2022; while total UK imports from Nigeria amounted to £2.2 billion in the four quarters to the end of Q2 2022.

The agreement in the EDF Memorandum of Understanding (MoU) comes to a close today, and the UK and Nigeria agreed that the Enhanced Trade and Investment Partnership will offer an alternative high-profile mechanism to progress bilateral economic issues of mutual strategic importance, under which both sides will continue to work together to resolve market access issues and enhance economic cooperation.

UK International Trade Secretary, Kemi Badenoch said: “Nigeria is Africa’s largest economy and I’m delighted to see our trade and investment links grow, already worth £5.5 billion. The successes the EDF over the last four years has helped address crucial market access barriers and boosted our exchanges in key sectors such as Legal and Financial Services.

“I welcome the shared interest in exploring an Enhanced Trade and Investment Partnership between our nations that will open up new opportunities for UK and Nigerian business, create jobs and future-proof our economies against a changing world.”

UK Prime Minister’s Trade Envoy to Nigeria, Helen Grant said: “The UK and Nigeria go far when we go together. We are supporting Nigeria on the path to becoming a higher-growth, more inclusive and more sustainable economy as we move towards the 2023 elections.

“This is part of a wider push by the UK to drive a free trade, pro-growth agenda across the globe, using trade to drive prosperity and help eradicate poverty. A potential Enhanced Trade and Investment Partnership would include a series of commitments to tackle non-tariff market access barriers to deliver tangible results for businesses in both the UK and Nigeria“

The UK had recently launched the Developing Countries Trading Scheme (DCTS), one of the most generous preference schemes in the world, with enhanced preferences for Nigeria-UK Trade and Investment. The new scheme which will come into effect in early 2023, will cut tariffs on hundreds of everyday products from developing countries – this will be welcome news to Nigerian exporters.

It will equally extend tariff cuts to hundreds of more products exported from Nigeria and other developing countries, going further than the EU’s Generalised Scheme of Preferences. This is on top of the thousands of products, which Nigeria can already export to the UK duty-free.

Nigeria Minister for Industry, Trade and Investment, Otunba Adeniyi Adebayo CON said: “The EDF has been a fantastic forum and it is important that what comes out of the working group builds upon its principles and strengthens its outcomes.

“I know that both Nigeria and the United Kingdom have exchanged policy papers detailing how they wish to proceed, and I look forward to feedback as both papers are reviewed.

“Increased collaboration with Nigeria and other developing markets is needed to mitigate against both current and potential future supply-chain challenges. To this end, the introduction of the Developing Countries Trading Scheme (DCTS) is warmly welcomed. The reduction in tariffs on hundreds of everyday products should be a win for both Nigerian exporters and UK consumers who are able to access our products at a lower price.

“In 2021, UK exports to Nigeria were said to be $1.64 Billion and Nigerian exports to the UK $1.12 Billion. Not too far apart.

“As we move into 2023 it will be good to see the DCTS grow these numbers. Increasing bilateral trade is key for both nations and the agreement we are forging must strategically promote its increase. We must continue to work together to resolve market access issues and enhance economic cooperation.”


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Digital Africa Global Consult, NDPC Partner on Ground-Breaking “Nigeria Data Challenge” Initiative

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L-r: Babatunde Bamigboye, Head, Legal, Enforcement & Regulations at NDPC; Dr. Vincent Olatunji, National Commissioner/CEO, NDPC; Dr. Evans Woherem, Chairman, Digital Africa Global Consult; and Nneoma Ofodile, General Manager, Digital Africa Global Consult, displaying the MoU document after signing the deal at the NDPC headquarters, Abuja
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In a bold and forward-looking move to embed a culture of data privacy in Nigeria’s educational landscape, Digital Africa Global Consult (DAGC), a leading technology advancement firm, on Friday, entered into a strategic partnership with the Nigeria Data Protection Commission (NDPC).

The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) aimed at launching the Nigeria Data Challenge, a pioneering, education-focused initiative designed to inculcate data protection awareness among secondary school students across the country.

The Nigeria Data Challenge is more than a knowledge dissemination campaign. It is a structured, competitive learning program that introduces students to the fundamentals of data protection and digital privacy.

By engaging learners through curriculum-based activities, practical challenges, and assessments, the program seeks to nurture a generation of data-responsible citizens well-prepared for the demands of Nigeria’s digital future.

Speaking during the signing ceremony, Dr. Vincent Olatunji, National Commissioner and Chief Executive Officer of the NDPC, applauded Digital Africa Consult for initiating the challenge, which he described as timely and transformative.

He noted that the project complements the Commission’s existing Privacy Club Initiative in tertiary institutions and aligns with its broader mandate to cultivate a privacy-aware culture throughout Nigerian society.

“This partnership is a natural extension of our mission to build a data protection-conscious ecosystem in Nigeria. We are excited about the opportunity to reach young minds early, and this program promises to be a cornerstone in our awareness strategy,” Dr. Olatunji stated.

In his remarks, Dr. Evans Woherem, Chairman of Digital Africa Global Consult and a seasoned advocate of digital transformation in Africa, expressed appreciation to the NDPC for embracing the vision of early-stage data literacy.

He underscored the strategic importance of data as the “new oil” of the digital economy and emphasised the need to build data consciousness from a young age to prepare Nigeria for a competitive global digital environment.

“The future belongs to nations that understand and manage data responsibly. By starting from our secondary schools, we are planting the seeds of a resilient data economy,” Dr. Woherem said.

Adding further insight, Nneoma Ofodile, General Manager of Digital Africa Global Consult, highlighted the novelty and global relevance of the Nigeria Data Challenge.

“This is the first data-focused challenge of its kind anywhere in the world, making it not only a national milestone but also a global precedent. It aligns with Sustainable Development Goals (SDGs) 4, 9, and 16, promoting quality education, industry innovation, and strong institutions,” she stated.

She also noted the urgency of addressing the indiscriminate ways data is shared and mishandled by young people, often without their full understanding of the consequences.

“This initiative comes at a time when even students are becoming both victims and agents of data breaches, consciously or unconsciously. Awareness is not optional; it is essential,” she added.

Nigeria, like many nations in Africa, is rapidly digitizing across public and private sectors. With this digital evolution comes the imperative to protect personal data and promote ethical digital practices.

The establishment of the Nigeria Data Protection Commission in 2023 signalled a new era of regulatory oversight in line with global data protection trends, including the EU’s GDPR and similar frameworks adopted in countries like Kenya, South Africa, and Rwanda.

Yet, awareness of data rights and responsibilities remains low, particularly among the youth. Initiatives such as the Nigeria Data Challenge help bridge this critical knowledge gap by bringing data education into mainstream educational curricula.

The project is expected to scale through state-level rollouts and regional contests, eventually culminating in a national championship that will showcase top-performing schools and students.

This initiative arrives at a time when the digital economy is estimated to contribute significantly to Nigeria’s GDP, and data-driven innovation, spanning fintech, e-commerce, health tech, and AI—continues to surge. However, this growth is threatened by weak data protection compliance and poor digital hygiene among users.

The NDPC and Digital Africa Global Consult are optimistic that this partnership will ignite similar collaborations and inspire a new frontier in civic education, one that recognises data as both a right and a responsibility.

As Nigeria positions itself to be a digital leader in Africa, the Nigeria Data Challenge may well become a benchmark model for other countries aiming to develop grassroots data governance awareness.


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Elumelu, UBA Chair Seeks Digital Sovereignty for Africa

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Tony Elumelu, chairman, United Bank for Africa (UBA) and Heirs Holdings,  has called on Africa to avow itself in the fast-evolving global technology landscape, calling for  deeper partnerships, infrastructure investments, and recognition of the continent’s digital potential.

Elumelu, UBA Chair Seeks Digital Sovereignty for Africa

Tony Elumelu, chairman, United Bank for Africa (UBA) and Heirs Holdings,  

Elumelu, who made this statement in a series of posts on his verified X handle over the weekend, questioned the continent’s current role in global tech innovation and value creation, noting  that while technology is transforming the world, Africa risks being sidelined without urgent strategic action.

“We know technology is transforming our world, and the pace of transformation is accelerating. Where is Africa? Are we in the conversation, or are we being left behind?” Elumelu asked.

Citing Africa’s youthful, entrepreneurial, and digitally native population, Elumelu stressed the need for stronger global partnerships that empower African startups and tech developers to not only serve local markets but compete globally.

“Young Africans are digitally native, entrepreneurial, and hungry to build. What we need are more opportunities for partnership, more belief in our potential, and platforms to amplify our voices.

“Africa has led in digital banking and payments. Our value chains are ripe for transformation. Yet we need more investment, more platforms, and more belief in our potential.

“We know that many of the minerals that are techs’ foundation are found in Africa. But is Africa getting the benefit? Africa needs to capture the moment – ensure we have digital sovereignty – that African priorities are understood and met”

The UBA Chairman revealed that he attended an exclusive dinner with French President Emmanuel Macron and global technology executives at the Élysée Palace in Paris, where he sought to amplify Africa’s voice at the highest level of innovation discourse.

“I had enriching conversations with global tech CEOs, including the CEO of NVIDIA, Jensen Huang, on how innovation can and must solve humanity’s most urgent challenges—including those facing Africa,” he said.

Elumelu used the opportunity to advocate for the continent as the next frontier of global tech investment, calling attention to Africa’s unique demographics and the imperative for inclusive innovation.

Speaking further he said through his investment company, Heirs Holdings, remains committed to Africa’s digital transformation, actively backing tech ventures such as Heirs Technologies and Redtech Limited, which are building solutions tailored for the African market while competing on a global scale.

 

 


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FG Urges Private Sector to Invest in Africa’s Space Future

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National Space Research and Development Agency (NASRDA) has called on African businesses to seize the opportunities emerging within the rapidly growing global space economy, which is projected to reach one trillion dollars annually by 2030.

FG Urges Private Sector to Invest in Africa’s Space Future

The appeal was made by Dr Matthew Adepoju, director-general, NASRDA, during a press briefing at the weekend in advance of the second Africa Space Economy Conference and Exhibition (ASEC 2025), scheduled to take place in Abuja from 17 to 19 June.

The event, organised in collaboration with the Abuja Chamber of Commerce and Industry (ACCI), will focus on the theme “Space Economy and Emerging Markets in Africa”.

Dr Adepoju highlighted that the global space economy is on the verge of surpassing $500 billion per year, making it the fastest-growing economic sector worldwide.

He stressed that Africa must position itself at the forefront of innovation, science, and technology by investing in space-related ventures.

“This is the Fourth Industrial Revolution and Africa must not be left behind.

“It is time for us to take our rightful place at the forefront of global innovation, science and technology, with space technology being the pinnacle of human endeavour.

“The space economy is the fastest growing economic sector in the world and it is projected to hit one trillion dollars per annum. Currently it’s more than 500 billion dollars annually,” he said.

The conference aims to foster collaboration between industry leaders, academic institutions, and research organisations, all working to strengthen Nigeria’s space ecosystem.

Dr Adepoju praised President Bola Tinubu for his forward-thinking economic initiatives, noting the President’s directive to transform NASRDA into a revenue-generating body.

NASRDA, he said, is now committed to fully commercialising and industrialising space research. The upcoming conference is expected to attract international participants, with confirmed interest from countries such as China, the United States, and several European and African nations.

The agency is also preparing for the launch of four new satellites—three optical and one Synthetic Aperture Radar (SAR).

These satellites are intended to support national security, environmental monitoring, and economic surveillance, particularly in sectors such as the blue economy and oil and gas.

Dr Adepoju encouraged private sector involvement in areas including satellite technology, data services, rocketry, and space-based applications.

He stressed that with Nigeria being Africa’s most populous country, there is already a significant market for space-related products and services, and now is the time for African businesses to build capacity, invest locally, and retain economic value.

Speaking on behalf of Chief Emeka Obegolu, ACCI President, Mr Agabaidu Jideani, chamber’s director-general, noted that Africa has yet to fully tap into the space economy’s potential.

He pointed out challenges such as limited public awareness, infrastructure gaps, and evolving policy environments, but said these issues also present opportunities for innovation and investment.

“It was with this foresight that ACCI, through our Policy Advocacy Centre, in a strategic partnership with NASRDA, conceptualised the ASEC,” he said.

Dr Haruna Mohammed, co-chairman of the Conference Organising Committee, reiterated that the event is aimed at the private sector and will showcase how space-based technologies can aid in economic diversification, enhance infrastructure, and promote sustainable development across the continent.


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