British beverage maker Twining Ovaltine has announced plans to launch a £24 million manufacturing facility in Lagos as part of some sweeping trade engagements between Nigeria and the United Kingdom.
The facility is expected to create over 100 direct jobs while boosting the company’s exports across West Africa, according to a statement issued by the UK’s Department of Business and Trade.
The launch of the manufacturing facility marks its major capital investment in Africa, reflecting the growing position of Nigeria as a key market for consumer goods makers.
“Twining’s Ovaltine is launching a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa,” the statement read.
As the two economies continue to enhance cooperation and trade relations, Peter Kyle, the UK’s business and trade secretary, said the investment plans will provide jobs for both countries while transforming lives.
“With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest-growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries,” Kyle said.
Nigerian firms are equally expanding their footprint in the UK, including Zenith Bank, now Nigeria’s most valuable bank, opening its Manchester branch with the capacity to create up to 30 new direct jobs in a boost for the North West economy.
The bank is also exploring a 2027 London Stock Exchange listing to deepen its UK market presence and unlock long-term funding for UK–Africa growth.
According to the statement, Fidelity Bank plans to double its 62‑person workforce in 2026 and add new capital, while the Fidelity Group makes London its global hub.
It said FCMB, one of the country’s lenders with an international license, has also selected the UK as the first international destination for its digital cross-border payments platform, boosting trade and investment flows between Africa and the rest of the world.
Seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total, according to the statement.
With bilateral trade now at an all-time high of £8.1 billion a year, the UK and Nigeria are showing how countries grow faster when they grow together.
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