October 31, (THEWILL) -- The United Kingdom and Nigeria have launched the UK-Nigeria Economic Diversification Dialogue to boost trade and investment across Nigeria's non-oil sectors. The event, held on October 30, 2025, in Lagos, followed the successful conclusion of the Developing Countries Trading Scheme (DCTS) Roadshow in Kano and Lagos States.
Organised under the framework of the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the dialogue brought together senior government officials, trade experts, and private sector leaders from both nations. Discussions centred on unlocking opportunities in agriculture, manufacturing, and digital services, with the UK pledging support through trade facilitation, investment promotion, and capacity building.
British Deputy High Commissioner to Nigeria, Mr Jonny Baxter, who opened the event, reaffirmed the UK's commitment to strengthening economic cooperation. He noted that bilateral trade between both nations was valued at £7.9 billion in the 12 months ending March 2025.
"Today's dialogue marks a significant milestone in the UK-Nigeria partnership," Baxter said. "It reflects our shared commitment to driving inclusive, sustainable economic growth through export diversification. By working together with the private sector and through market development programmes like Propcom+, we are unlocking new opportunities for trade, investment, and innovation."
Baxter highlighted that the Developing Countries Trading Scheme (DCTS) offers generous tariff reductions and simplified trade rules for over 3,000 Nigerian products, including ginger, cocoa, sesame seeds, cashew nuts, soya beans, and textiles.
Speaking on behalf of Ambassador Abba Nura Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, the Director of Trade and Investment, Mrs Orji Gertrude, said the scheme aligns with Nigeria's drive to diversify its export base.
"This DCTS initiative comes at a critical time when Nigeria is intensifying efforts to strengthen its participation in global value chains," she said. "However, to harness these benefits, stakeholders must understand the rules of origin, documentation requirements, and product standards under the scheme. Through partnerships with the UK's Department for Business and Trade, we aim to reduce barriers, improve competitiveness, and ensure Nigerian products meet international standards."
Both countries reaffirmed their commitment to building resilient and diversified economies, with the dialogue concluding on a call for continued collaboration, policy innovation, and knowledge sharing to advance future trade and investment relations.