Abstract Book of the 9th International Conference on Business, Management and Finance
Year: 2025
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Unlocking Shared Prosperity: A Policy Blueprint for Nigeria–UK Trade and Investment Intensification Strategy (NUKTIIS 2025–2030)
Adedeji Adeshile, Anita Alaere Eyewane
ABSTRACT:
This study develops the Nigeria–UK Trade and Investment Intensification Strategy (NUKTIIS 2025–2030) as a conceptual-empirical framework for deepening bilateral trade and investment between Nigeria and the United Kingdom. Anchored in the shifting dynamics of the global economy—marked by geopolitical fragmentation, declining FDI flows, and evolving trade architecture—the study situates Nigeria’s opportunities and challenges within broader African and international contexts. Despite Africa’s 3% contraction in FDI inflows to $53 billion in 2023 and Nigeria’s modest trade share of 0.4% of total UK trade by Q1 2025, emerging macroeconomic reforms and sectoral diversification efforts present strong prospects for re-engagement. Adopting a mixed-methods research design, the study integrates quantitative analysis of secondary data from the UK Office for National Statistics (ONS) and the UK Department for Business and Trade (DBT) with qualitative synthesis of scholarly and policy literature. Findings reveal a persistent tradable opportunity in Nigeria–UK trade—totalling £7.2 billion in 2024—with UK exports (£5.3 billion) and Nigerian exports (£1.9 billion), alongside a modest UK FDI stock of £385 million in Nigeria for 2023. Through comparative policy analysis, the paper evaluates Nigeria’s trade and investment frameworks (2023–2027) alongside UK initiatives such as the British Investment Partnerships (BIP), Developing Countries Trading Scheme (DCTS), and Enhanced Trade and Investment Partnership (ETIP). Synthesised scholarly evidence highlights structural, institutional, and logistical barriers—including regulatory asymmetries, infrastructure deficits, and trade finance gaps—while endorsing the potential of targeted reforms to reverse these trends. The resulting NUKTIIS framework advances six strategic pillars: (1) policy and institutional coordination; (2) sectoral competitiveness and diversification; (3) trade facilitation and market access; (4) investment promotion and finance innovation; (5) knowledge and skills exchange; and (6) bilateral partnership governance. Collectively, these pillars aim to strengthen Nigeria’s integration into the UK and global value chains, catalyse £3 billion in new FDI inflows, and double Nigeria’s exports to the UK by 2030. The study concludes that sustained collaboration, policy coherence, and private-sector engagement are imperative for unlocking shared prosperity and repositioning Nigeria–UK relations for inclusive and sustainable growth.
Keywords: Nigeria–UK Relations, Trade & Investment Intensification, Bilateral Strategy, Policy Framework, Sustainable Development.