Nigeria and the United Kingdom have launched the UK–Nigeria Economic Diversification Working Group Dialogue, a joint initiative designed to expand trade and investment beyond the oil sector and strengthen collaboration in key non-oil industries such as agriculture, manufacturing, and digital services.

The dialogue, held on Thursday, follows the UK’s Developing Countries Trading Scheme (DCTS) roadshow recently concluded in Kano and Lagos. 

Convened under the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP), the meeting brought together senior government officials, trade experts, and private sector leaders from both countries.

Discussions centred on unlocking opportunities in Nigeria’s non-oil economy, with a strong emphasis on agriculture as a driver of inclusive growth and rural employment. 

The UK pledged continued support through trade facilitation, investment promotion, and capacity-building initiatives to improve market access and productivity in Nigeria’s key export sectors.

British Deputy High Commissioner Jonny Baxter reaffirmed the UK’s commitment to strengthening bilateral trade relations, which have reached £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 strategic export diversification. 

“By working together, government to government and with the private sector, we are unlocking new opportunities for trade, investment, and innovation across key sectors.”

He further noted that initiatives such as the DCTS and joint programmes with Nigeria’s Federal Ministry of Industry, Trade and Investment (FMITI) are laying the groundwork for long-term prosperity.

Representing the ministry’s permanent secretary, Ambassador Abba Rimi, the Director of Trade and Investment, Orji Gertrude, highlighted that the DCTS comes at a critical time, as Nigeria accelerates its efforts to diversify exports and strengthen its role in global value chains.

“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,” Gertrude said.

She added that partnerships with the UK’s Department for Business and Trade will help reduce trade barriers, enhance competitiveness, and ensure Nigerian agricultural and manufactured products meet international standards.

The dialogue concluded with both nations reaffirming their commitment to building resilient, diversified economies through continued collaboration, knowledge exchange, and innovation.

Source: NewsNationalStar