NBCC Establishes British Trade Centre in Lagos to Enhance UK-Nigeria Business Collaboration

The Nigerian British Chamber of Commerce (NBCC) has inaugurated a new British Trade Centre located within its Lagos headquarters, aimed at boosting trade and investment relations between Nigeria and the United Kingdom. The centre is designed to assist foreign businesses in navigating the Nigerian market while supporting Nigerian companies interested in expanding their operations into the UK.

The official launch on May 29 attracted officials from the British High Commission and the Nigerian Investment Promotion Commission (NIPC), among other stakeholders. The centre offers teleconferencing facilities and temporary workspaces, positioning itself as a comprehensive resource for businesses exploring bilateral trade.

The NBCC emphasized that the centre will function as an accessible information hub to streamline trade processes and foster stronger economic ties. It will also serve as a liaison point for British enterprises seeking market entry in Nigeria and for Nigerian businesses aiming to export or establish a presence in the UK.

The UK Department for Business and Trade’s Nigeria Country Director praised the initiative, highlighting ongoing efforts to diversify Nigeria’s export base beyond oil. In particular, the UK-Nigeria Enhanced Trade and Investment Partnership aims to increase non-oil imports from Nigeria, a key step given recent declines in trade volumes tied to crude oil exports.

The new centre complements Nigeria’s One Stop Investment Centre, which consolidates services from 17 government agencies to simplify investment procedures. The NIPC CEO noted that this alignment enhances the ease of doing business and supports the government’s broader investment promotion goals.

Furthermore, the UK’s Developing Countries Trading Scheme (DCTS), launched in 2023, grants preferential tariff access to thousands of Nigerian products, further incentivizing export growth. This trade scheme allows Nigerian goods to benefit from reduced or zero tariffs, increasing their competitiveness in the UK market.

The establishment of the British Trade Centre marks a strategic effort to strengthen economic cooperation between Nigeria and the UK, providing essential support infrastructure to drive trade growth and investment flows in both directions.