Nigeria-UK Trade Reaches £8.1 Billion, Boosting Exports

Olubunmi Kuku, Managing Director of the Federal Airports Authority of Nigeria (FAAN), projected strong export growth as Nigeria-UK trade reached £8.1 billion, reflecting an 11.4% year-on-year increase. Kuku highlighted the potential for new market opportunities within the aviation sector, emphasizing the importance of the UK’s decision to grant duty-free status on 3,000 Nigerian products, which could significantly boost exports, especially in agriculture and manufacturing.

The trade mission, organized by the UK Department for Business and Trade from April 19-23, 2023, aimed to enhance educational collaboration and workforce development in Nigeria. Kuku noted that the Nigerian government’s aviation reforms, led by President Bola Tinubu and Aviation Minister Festus Keyamo, are restoring investor confidence and strengthening bilateral cooperation.

FAAN is advancing infrastructure upgrades and digitizing cargo systems to attract cargo airlines and capture a larger share of the global air freight market.