UK-Nigeria trade hits £7.8bn

• Published On: 10 March 2025 at 20:50

Mrs Gill Lever, the UK Deputy High Commissioner, estimates that trade between Nigeria and the United Kingdom is currently worth £7.8 billion.

She announced this at the opening of a British Franchise Body Shop in Nigeria, the first of its kind in West Africa.

Lever reaffirmed the United Kingdom's commitment to Nigeria as a development partner.

She added, "And our bilateral trade with Nigeria is currently worth around £7.5 billion. It is growing. Nigeria is the UK's second-largest trading partner in Africa, following South Africa.

"The United Kingdom is one of Nigeria's largest foreign investors. We also have investments in energy, finance, and retail. And our Department of Business and Trade has identified Nigeria as a high-growth market, with a young, dynamic population of more than 200 million people and a rapidly expanding business sector.

"To the people of Nigeria, I say this: the United Kingdom is committed to being your progress partner. We believe in you and are here to help you achieve your goals.

The envoy emphasised that the Body Shop's arrival in Nigeria demonstrates the strength of UK-Nigeria trade relations and the enormous potential of the Nigerian market.

"The Body Shop's arrival in Nigeria demonstrates the strength of UK-Nigeria trade relations as well as the enormous potential of the Nigerian market." The Body Shop, a brand founded on ethical values, sustainability, and community empowerment, perfectly aligns with the aspirations of Nigerian consumers, who increasingly value quality, authenticity, and responsible business practices," Lever stated.

The UK deputy high commissioner expressed her pleasure in being a part of the Body Shop's Nigerian launch.

She described it as a historic occasion, not only for The Body Shop as a trailblazing UK brand, but also for the growing economic partnership between the UK and Nigeria.

"This launch is more than just a store opening; it's a statement of intent. It embodies the power of ethical business, the strength of UK-Nigeria collaboration, and an unwavering dedication to female empowerment.

"The Body Shop's entry into Nigeria demonstrates UK businesses' confidence in the market. It also reflects our two countries' shared commitment to promoting long-term, inclusive economic growth.

"The launch of The Body Shop in Nigeria is a milestone, but it is also a stepping stone towards an even brighter future for UK-Nigeria trade."

Shalom Lloyd, General Manager of Body Shop Nigeria, stated that the launch of the Body Shop brand in Nigeria is a result of the company's dedication and commitment to bringing ethical and sustainable beauty products to Nigerian consumers.

Lloyd, a member of the Nigerian diaspora, stated that the company will support cancer screening, emphasising the importance of timely detection.

"The fact that we believe in empowerment and community spirit is extremely important. One of the initiatives we'll be supporting is cancer screening through the Body Shop.

"That's extremely important. Because 95% of cancer patients in Africa die as a result of a lack of early detection. Early detection can save lives. So we want to be able to perform a large number of screenings in order to prevent cancer early.
"And the Body Shop will sponsor it in Nigeria as well," she stated.

"On why she chose to invest in Nigeria at this time, Lloyd said, "Why now did I choose to invest in Nigeria when they say the country is bad? So, why not now? Why are you waiting until everything is perfect? There is a saying that I believe in. Begin by doing what is necessary, followed by what is possible. "Before you know it, you've accomplished the impossible," she stated.