The UK and Nigeria have launched the Economic Diversification Dialogue, building on the success of the Developing Countries Trading Scheme roadshow in Kano and Lagos.
Convened under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the event brought together senior government officials, trade experts, and private sector leaders from both nations. The discussions focused on unlocking Nigeria’s non-oil sectors: agriculture, manufacturing, and digital services; with the UK offering support through trade facilitation, investment promotion, and capacity building initiatives.
Opening the event, British Deputy High Commissioner Mr. Jonny Baxter reaffirmed the UK’s commitment to deepening bilateral trade relations, which was valued at £7.9bn in the12 months ending March 2025.
He reaffirmed the UK’s commitment to supporting Nigerian exporters through the Developing Countries Trading Scheme (DCTS), which provides generous tariff reductions and simplified trade rules. Under the DCTS, over 3,000 Nigerian products stand to benefit from enhanced market access. These include produce such as ginger, cocoa, sesame seeds, cashew nuts, soya beans, and textiles, among others.
“Today’s dialogue marks a significant milestone in the UK-Nigeria partnership. It reflects our shared commitment to driving inclusive, sustainable economic growth through strategic exports diversification. By working together, government to government and with the private sector through our market development programmes like Propcom+, we are unlocking new opportunities for trade, investment, and innovation across key sectors.
“The UK remains a steadfast partner in supporting Nigeria’s ambition to stimulate economic growth. Through initiatives such as the Developing Countries Trade Scheme (DCTS) and our joint efforts with the Federal Ministry of Industry Trade and Investment (FMITI), on standards and export readiness, we are laying the foundation for long-term prosperity that benefits both our nations.”
Also speaking, Director of Trade and Investment, representing Ambassador Abba Nura Rimi, Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Mrs Orji Gertrude said that the initiative to be fully harnessed, stakeholders must have a clear understanding of the rules.
“This DCTS initiative comes at a critical time when Nigeria is intensifying efforts to diversify its export base beyond oil and strengthen its participation in global value chains. However, to fully harness these benefits, stakeholders must have a clear understanding of the rules of origin, documentation requirements, product standards, and trade facilitation measures under the scheme. Through partnerships like this with the UK’s Department for Business and Trade (DBT), we aim to reduce barriers to trade, improve competitiveness, and ensure that Nigerian products meet international market standards.”
Looking ahead, both countries reaffirmed their shared commitment to building resilient, diversified economies. The dialogue concluded with a call to action for continued collaboration, knowledge exchange, and policy innovation to drive future trade and investment between both our countries.
Source/BHC
