Bilateral trade between the UK and Nigeria has reached £8.1 billion, fueled significantly by the exchange of energy products and a strong demand for services.

This represents a substantial 11.4% increase in total trade value compared to the previous year.

According to the latest trade and investment factsheet published by the UK Department for Business and Trade, UK exports to Nigeria surged to £5.7 billion in the four quarters leading to Q3 2025, while imports from Nigeria totalled £2.4 billion.

The data indicates that the UK now maintains a healthy total trade surplus of £3.4 billion with its 36th largest trading partner.

Refined oil continues to be the cornerstone of UK goods exports, accounting for £1.6 billion (69.8%) of all goods sent to Nigeria. On the other side of the ledger, crude oil remains Nigeria’s primary export to the UK, valued at £1.0 billion and representing 60.2% of all UK goods imports from the country. Other significant goods in the exchange include gas, toilet and cleansing preparations, and mechanical power generators.

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The services sector also plays a pivotal role, particularly for UK providers. Services exports to Nigeria reached £3.5 billion, making up over 61% of total UK exports to the nation. This dominance is reflected in the UK’s market share, which rose to 11.1% overall in 2024, supported by a commanding 23.8% share of Nigeria’s services market.

From a regional perspective, London and the South East are the primary hubs for this trade. In 2024, London alone was responsible for 34.5% of UK goods exports to Nigeria and 55.3% of goods imports. This economic activity is supported by approximately 3,300 UK VAT-registered businesses currently exporting to the Nigerian market.

Investment ties remain steady, with the stock of Foreign Direct Investment  from Nigeria in the UK valued at £492 million at the end of 2024.

While specific data for UK outward FDI in Nigeria was suppressed for disclosure reasons, the broader economic outlook for Nigeria remains positive.

The IMF projects Nigeria’s real GDP growth will accelerate to 4.2% by 2026, providing a potentially fertile ground for continued trade expansion.